New Delhi, 9 February (IANS). India’s pharmaceutical exports are estimated to double $ 27 billion in 2023 to $ 65 billion by 2030 and by 2047 it can increase to $ 350 billion. This information was given in a new report.
India is the largest supplier of generic drugs globally. One of the five generic drugs sold worldwide is made in the country.
India currently ranks 11th in terms of export price.
The report prepared by Ben & Company in collaboration with Indian Pharmaceutical Alliance (IPA), Indian Drugs Manufacturers Association (IDMA) and Pharmaccil told how India innovation in its export basket And can potentially secure a location in the top five countries in export price by potentially by bringing diversity.
Union Commerce and Industry Minister Piyush Goyal said, “India has been the world’s pharmacy for a long time. Now we want to convert this world’s neoral for India to ‘as the patron of the world’s health care’. The government innovation and innovation and innovation. By promoting research and development and ensuring uninterrupted regulatory processes, it is fully committed to achieving this goal. “
The Union Minister further said, “By strengthening cooperation between education and industry and government, we will continue to build a competitive sector globally, which will promote development and contribute to health care worldwide.”
India’s API export market is currently estimated to increase from $ 5 billion to $ 80-90 billion by 2047.
Indian companies currently have less than 5 percent stake in the global biosimiller market. Growing R&D investment, extended pipelines of more than 40 products and planned capacity increase in the next 3-4 years, show progress.
The report stated that Indian biosimiller exports are currently $ 0.8 billion. It is estimated to increase by 5 times to $ 4.2 billion by 2030 and exports can reach $ 30-35 billion by 2047.
-IANS
ABS/
