The Hindu Business Line : Indian drugs find new markets

Hyderabad April 1 In a testimonial to the growing reach of the Indian pharma industry abroad, pharma exports from the country are acquiring a broader base and are on a steady rise in markets other than the European Union and the US.

While Europe and the US continue to have a lion's share in terms of value, exports to Africa and Commonwealth of Independent States (CIS), among others, are growing at an impressive pace in the first half of the fiscal year 2006-07, Dr P.V. Appaji, Executive Director, Pharmaceutical Export Promotion Council (Pharmexcil), told Business Line.

"The growth is clearly visible in the provisional figures for the first half of the current fiscal year. Between April 6 and October 6, exports of drugs, pharmaceuticals and fine chemicals to Africa and CIS grew by 22.83 per cent and 7.06 per cent, respectively, compared to the corresponding period last year,'' Dr Appaji said.

Top markets

These markets are becoming significant in value terms as well. While exports to Africa stood at $402.48 million as the fourth largest export market for India after Europe, Asia and North America, the CIS occupied fifth position with $215.51 million. Nigeria, South Africa and Kenya are the top markets for India in Africa.

"The largest number of the US FDA approvals for our facilities, highly competitive prices and lack of manufacturing facilities in many African countries are working in favour of the Indian industry," Dr Appaji added.

Bright future

Industry pundits are expecting the exports to Africa and the CIS market to grow phenomenally in future. "These markets are turning vital of late. While Africa holds promise for anti-AIDS and other general drugs, there is tremendous scope for biotech exports to Russia,'' Mr K.I. Varaprasad Reddy, Managing Director, Shantha Biotech, told Business Line.

Export to Russia

Shantha's exports to Russia in the fiscal year stood at about Rs 50 crore.

"Between April and September 2007 our exports to Russia will cross Rs 68 crore," Mr Reddy said.

The total exports in the first half of the 2006-07 stood at $2,869 million as per the provisional figures available with Pharmexcil.

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