By: IPP Bureau
Last updated : August 03, 2021 10:21 pm
Drug formulations and biologics make impressive gains
The export of Drug Formulations and Biologics has registered a growth over the last three years as the measures taken by the Department of Commerce to promote exports include various schemes under the Foreign Trade Policy (FTP), assistance under the Market Access Initiative (MAI) scheme, setting up district export hubs, Transport and Market Assistance Scheme etc has borne fruit.
This was stated by the Minister of Health & Family Welfare and Chemicals & Fertilizers, Shri Mansukh Mandaviya in a written reply in Lok Sabha today.
Trade delegations/buyer-seller meets with various countries are regularly organized for the benefit of exporters. Airfare support is also provided to the exporters with a turnover of Rs.30crore and below to encourage participation in business delegations/trade fairs. The quantum of pharmaceutical exports of past three years, category-wise is as under: These figures are in million (USD)
|
No |
Category |
2018/19 |
2019/20 |
2020/21 |
|
1 |
Bulk Drugs, Drug Intermediates |
3911 |
3886 |
4430 |
|
2 |
Drug Formulations, Biologics |
14389 |
15941 |
19042 |
Department of Commerce, in partnership with other stakeholders, is working towards boosting our presence in under-penetrated/potential international markets viz. North-East Asia, Africa, Middle East, Latin America, South-East Asia etc. The Department is also actively taking up with MoHFW/CDSCO for the promotion of newer products such as gene therapy, bio-similars, and speciality drugs to drive the next phase of export growth.