Pharma exports up 3 per cent in FY18
Indian Pharma exports grew to 1726 billion up 292 per cent despite eight per cent negative growth witnessed in the US market, said an official Even if negative growth continues in the US market, the Indian Pharma companies should be confident and focus on growth and explore opportunities
Hyderabad: Indian Pharma exports grew to $17.26 billion (up 2.92 per cent) despite eight per cent negative growth witnessed in the US market, said an official. “Even if negative growth continues in the US market, the Indian Pharma companies should be confident and focus on growth and explore opportunities in the potential markets like China, South Africa and CIS markets,” said Uday Bhaskar Reddy, Director General, Pharmaceuticals Export Promotion Council (Pharmexcil). Reddy was one of the speakers at the 5th edition of PharmaLytica 2018 – a global pharma trade show and conference hosted by UBM India here on Friday.
Speaking at the launch of the event, Yogesh Mudras, Managing Director, UBM India said, “The Indian Pharma economy has been lauded for its rapid growth in recent decades. Within this market, analytical, bio-technology, lab equipment, pharma machinery and pharma packaging sectors in India are set for amplification owing to quality, research, regulatory and environmental compliances.
Therefore, the need of the hour for the Indian pharmaceutical players is to achieve maximum efficiency from the potential of today’s landscape with better product and service offerings.”“At PharmaLytica, every participant gets an opportunity to pick up on the latest industry trends and innovations as well as network with the Pharma business community offering each other a value proposition,” he added.