- Home
- Medical news & Guidelines
- Anesthesiology
- Cardiology and CTVS
- Critical Care
- Dentistry
- Dermatology
- Diabetes and Endocrinology
- ENT
- Gastroenterology
- Medicine
- Nephrology
- Neurology
- Obstretics-Gynaecology
- Oncology
- Ophthalmology
- Orthopaedics
- Pediatrics-Neonatology
- Psychiatry
- Pulmonology
- Radiology
- Surgery
- Urology
- Laboratory Medicine
- Diet
- Nursing
- Paramedical
- Physiotherapy
- Health news
- AYUSH
- State News
- Andaman and Nicobar Islands
- Andhra Pradesh
- Arunachal Pradesh
- Assam
- Bihar
- Chandigarh
- Chattisgarh
- Dadra and Nagar Haveli
- Daman and Diu
- Delhi
- Goa
- Gujarat
- Haryana
- Himachal Pradesh
- Jammu & Kashmir
- Jharkhand
- Karnataka
- Kerala
- Ladakh
- Lakshadweep
- Madhya Pradesh
- Maharashtra
- Manipur
- Meghalaya
- Mizoram
- Nagaland
- Odisha
- Puducherry
- Punjab
- Rajasthan
- Sikkim
- Tamil Nadu
- Telangana
- Tripura
- Uttar Pradesh
- Uttrakhand
- West Bengal
- Medical Education
- Industry
Indian pharma exports expected to touch USD 28 billion in FY 24: Pharmexcil Director General
![Indian pharma exports expected to touch USD 28 billion in FY 24: Pharmexcil Director General Indian pharma exports expected to touch USD 28 billion in FY 24: Pharmexcil Director General](https://medicaldialogues.in/h-upload/2022/11/28/750x450_192172-pharma-exports.webp)
New Delhi: Indian pharma exports may touch USD 28 billion during the current fiscal against USD 25.39 billion in FY 23, Udaya Bhaskar, Director General of Pharmaceuticals Export Promotion Council of India (Pharmexcil), a body under the Department of Commerce said.
Speaking to reporters he said during the current fiscal the exports cloaked over 10 per cent and 0.7 per cent growth in April and may respectively.
"In FY 23 we exported USD 25.39 billion worth of pharma goods with 3.25 per cent growth. When most commodities are not doing so well, India pharma made this and achieved this despite so many headwinds and global challenges," Bhaskar said replying to a query.
"I am ambitious that we may touch around USD 28 billion in FY 24. That is my expectation," he further said.
Justifying the target the official said the US market which has over 31 per cent share in over all exports last year has stabilised and it is positive sign indicating continuous growth.
The exports from Commonwealth of Independent States (Russia and others) was down by 8.42 per cent to USD 1.15 billion due to disturbances in some countries, he said.
To another query, he said the US Food and Drug Administration officials inspection on Indian manufacturing sites have not picked up and is yet to reach the pre-covid levels.
He said the Ministry of Commerce is aware of the situation and is taking up the issue with the USA.
Meanwhile, the ninth edition of the International Pharma Exhibition (IPHEX), a flagship event of the Pharmexcil is being organised with the support of the Ministry of Commerce and Industry, from July 5 to 7 here.
For the last eight editions, a total of 4,500 plus foreign delegates including regulatory officials, public procurement agencies, journalists and importers from 120 plus countries, 3,500 exhibitors and over one lakh visitors attended, Bhaskar said.
The ninth edition of IPHEX, is a special edition being organised on the occasion of G20 presidency by India, with exhibition, business meetings and an exclusive "G20 focussed CEOs Round Table" inviting delegates from over 120 countries, he added.
Read also: More pharma products can be brought under quality improvement norms for export, says DGFT
Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751