Pharma exports from India rise by 4.22 percent to USD 14.57 billion during April-Oct in current fiscal
India's overall exports contracted by 16.65 percent to USD 29.78 billion in October 2022 as compared to the last year's period, according to data released by the Ministry of Commerce recently.;
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Hyderabad: Pharmaceutical exports from India registered a growth of 4.22 percent to reach USD 14.57 billion during the April-October period despite a negative trend last month, according to a senior official of an export promotion body under the Government of India. Udaya Bhaskar, Director General of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), an organisation under the Ministry of Commerce, said he was hopeful of ending the current fiscal at around USD 27 billion as against USD 24.62 billion during the last financial year.
"There was a dip (-0.32 percent) in July and (-5.45 percent) and there was 8.47 percent positive growth in September. I am optimistic that it will be revived in the coming months and may touch USD 27 billion at the end of the fiscal," Bhaskar told PTI.
During the same period last fiscal, the exports fetched USD 13.98 billion.
The USA, Canada, Mexico (NAFTA countries), Europe, and Africa account for 67.5 percent (nearly USD 5 billion) of the total exports.
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