Pharmaceutical exports of Indian companies in 2012-13 is expected to touch Rs 75,000 crore, up by 25 percent over last year, a top official of trade body Pharmexcil said here Thursday.
Chennai: Pharmaceutical exports of Indian companies in 2012-13 is expected to touch Rs 75,000 crore, up by 25 percent over last year, a top official of trade body Pharmexcil said here Thursday.
"Exports of pharmaceuticals in 2004 was Rs 17,000 crore.In the last nine years, it reported a strong growth and in 2012, exports stood at Rs 63,500 crore.For the period ending Mar 31, 2013, we are contemplating to grow by 25 percent to around Rs 75,000 crore", Pharmexcil Director General Appaji PV told reporters here.
He said 2,500 of the 3000 exporters under its membership are small and medium enterprises in the pharma industry.
He said the US constitutes 27 percent of India's pharma exports, followed by Europe 19 percent, Africa 17 percent, Middle East seven percent, Latin America six percent and CIS Countries five percent.
On the Commerce Ministry's announcement in 2010 that Indian pharmaceutical exports have been set at USD 25 billion by 2014, he said to be realistic, the deadline is likely to be extended by two years (2016) due to uncertain global economic conditions.
As per government advice to tap markets which offer huge potential to the domestic pharmaceutical industry, Appaji said the body would take a delegation to China and Japan which offer huge opportunities for Indian pharmaceutical industry.
"We plan to take a delegation to China sometime later this year. In June a delegation from Japan will visit Chennai to have a discussion on the pharmaceutical industry. Japan alone constitutes 40 percent of the total pharmaceutical market valued at USD 950 billion", he said.
Besides, with support of the Commerce Ministry,Pharmexcil plans to establish a 'warehouse' in Nigeria to help trading communities, considered the first time in the world.
"It will take at least six to seven months to begin operation. On first week of March we will visit Nigeria to identify the location. It will be offered with incentives to traders (opting to set up shops in Nigeria) in which 75 percent of the rent will be paid by Pharmexcil in the first year. Second year, it will be 50 percent ......", he said.
Officials of "Pharmexcil" were here to announce the first edition of a three-day road show on pharmaceuticals -- "iPHEX 2013" scheduled to begin on April 24 in Mumbai. It would have 250 companies participating in it, he said.
"It will only have participation from Indian companies. We have stopped foreign exhibitors from taking part. The idea is to promote Indian pharma industry. There are so many Ranbaxys and Dr Reddy's Laboratories in the making and we think we should support them", he said.