Hyderabad, For the first time, Indian Pharma exports touched at USD 17.25 billion during the financial year 2017-18, despite a 8 per cent negative growth witnessed in the US market, Pharmaceuticals Export Promotion Council (PHARMEXCIL) Director General Uday Bhaskar Reddy said on Friday.
Speaking at the two-day 5th ediction of PharmaLytica 2018, organised by UBM India at Hitex exhibition Centre here today, Mr Uday Bhaskar said that whenever there is negative growth in US, the Indian government as well as Pharmaceutical Industry always warried.
“ For the first time Indian Pharmaceutical exports grew by 2.29 per cent in the FY 2017-18 when 8 per cent negative growth reported in US market. It clearly demonstrates and also give confidence to the Indian pharma industry, other then US market, he added.
There are other potential markets to explore like China, South Afirca and CIS markets”, he said.Mr Bhaskar said the Indian pharma exports in the Q1FY2018-19 grew by 18 per cent. At the same time, the pharma exports during the 8 months in last year showed in negative growth.’ So we should work together and take forward the Indian Pharma Industry”, he said.