Economy

Pharmaceutical exports up 7.57 per cent in FY20 at $20.58 billion

G Naga Sridhar Hyderabad | Updated on May 08, 2020 Published on May 08, 2020

A representative image

The growth in the first three quarters was at 11.21 per cent

The pharmaceutical exports increased 7.57 per cent in the financial year ended March 31, 2020 at $ 20.58 billion as against $19.13 billion in the previous year

The growth in FY20 was lower compared to previous financial year which registered 10.72 per cent increased over FY19, according to Pharmaceutical Export Promotion Council’s (Pharmexcil) data.

“The slowdown in growth rate was due to reduction of exports in February and March 2020. While February showed 7.7 per cent growth exports decline 23.24 per cent in March affecting the overall performance of exports in the pharma industry,” R Uday Bhaskar, Director-General. Pharmaexcil said on Friday.

In a way, Covid-19 and lockdown had offset the positive impact of surge in pharma exports in the first three quarters of the year under review. The growth in the first three quarters was at 11.21 per cent, 8.69 per cent, 14.64 per cent respectively.

Composition

Drug formulations, biologicals contributed to 72 per cent of total exports with a growth of 9.5 per cent. However, second largest category of exports – Bulk drugs and intermediaries, declined by 0.75 per cent. The vaccines and surgicals recorded 22 per cent and 10.5 per cent growth respectively.

Of the 202 destinations for Indian drugs, North America had the largest share of 34 per cent with 15 per cent growth in overall exports.

Exports to the United States (US) stood at $6.7 billion with a 32.74 per cent share in total exports and showed 15.8 per cent growth.

Published on May 08, 2020

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.