MNCs campaigning against Indian generics in Africa: Sharma

Last Updated: Friday, September 25, 2009 - 20:25

Hyderabad: India`s growing share of pharma
exports in Africa have caused "concern" among MNCs, which are
campaigning against generic medicines from the country,
Commerce and Industry minister Anand Sharma said today.

The country`s growing share of generics in Africa have
"started causing concern" among MNCs which are campaigning
against Indian medicines as being "counterfeit and
substandard", Sharma said while addressing the Indo-Africa
Pharma Business Meet here.

He said India`s export of drugs, pharmaceuticals and fine
chemicals have registered 29 per cent growth at Rs 39,538
crore during 2008-09 over the previous year and that Indian
companies have established their lead in most of the markets,
including Africa.

"In recent times, the Indian Pharmaceutical sector has
emerged as one of the major contributors to Indian exports
with export earnings rising form a negligible amount in early
1990s to Rs 29,139 crore (USD 7.24 billion by 2007-08," Sharma
said.

He added, "The exports of drugs, pharmaceuticals and fine
chemicals of India have grown at a compounded annual growth
rate of 17.8 per cent during the five year period from 2003-04
to 2007-08."

Bureau Report



First Published: Friday, September 25, 2009 - 20:25
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