Pharmaceutical exports in the first seven-month period between April and October, 2011, posted a 20 per cent growth to Rs 31,467 crore as compared with Rs 26,174 crore in the corresponding period previous year.
This comes on the back of a 22.34 per cent increase in exports to the top 25 destinations in the world during the period from 15.05 registered in the corresponding period previous year, according to the Pharmaceutical Export Promotion Council (Pharmexcil). Exports to these 25 countries stood at Rs 20,667.92 crore as against Rs 16,893.97 crore in the previous year.
The European Union (EU), which is the second largest importer of Indian pharma products after North America, posted a 30 per cent growth to $1,347 million while exports to North America and African regions stood at $1,732 million (18 per cent) and $1,1178 million respectively.
Coming to individual countries, the US, which accounts for over 23 per cent of the total Indian pharma exports, saw a reduced growth of 16.62 per cent to $1,619.58 million while countries like UK, Germany, Russia, South Africa, Canada, Australia, Thailand and Japan registered an increase of between 24.76 per cent and 59.68 per cent. Export value to these individual countries ranged from $73.71 million (Japan) and $262.74 million (UK).
Barring Ghana, exports to all the top 25 destinations grew positively. In April-Oct 2010, of the 25 destinations, eight countries, including Germany, Canada, Spain and Israel, showed negative growth. In terms of growth to individual countries, Japan topped with 59.45 per cent increase to $59.68 million as compared with 14.6 per cent growth in the previous period.