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India's pharmaceutical exports experience robust expansion, despite setbacks in the cough syrup sector

The article discusses the growth of India's pharmaceutical exports despite recent challenges, such as deaths linked to Indian-made cough syrups in some countries.

Here are the key points:

  1. Pharmaceutical Export Growth: India's pharmaceutical exports are expected to reach $27 billion in the current fiscal year, growing almost twice as fast as the previous year.
  2. Strong Demand in the US: The robust forecast is primarily driven by strong demand in the US market, where India holds a significant share of the pharmaceutical market.
  3. Concerns about Cough Syrup: The World Health Organization linked cough syrup-related deaths to drugs made in India, raising concerns about the country's pharmaceutical products.
  4. India's Global Stature: Despite these concerns, India remains a major player in the global pharmaceutical industry, and its size and reputation make it a significant player for global buyers.
  5. Export Growth: Pharmaceutical exports from India rose by 3.25% in the previous fiscal year, reaching $25.4 billion, and are expected to grow by approximately 6.3% in the current fiscal year, reaching $27 billion.
  6. US Market Growth: The US market accounts for 30% of India's overall pharmaceutical exports and experienced a growth of 6.2% in the previous fiscal year, reaching $7.5 billion.
  7. Strong Demand for Specific Medications: India's strong demand for drugs related to central nervous system conditions, cardiovascular issues, and oncology is contributing to the overall growth in pharmaceutical exports.
  8. Addressing Concerns: Delegations from Pharmaceuticals Export Promotion Council of India (Pharmexcil) have visited various countries to address concerns and reinforce the quality of Indian drugs.
  9. Cough Syrup Exports: Despite mandatory testing of cough syrups for exports in both India and Gambia, exports of cough syrups from India remain relatively unchanged, valued at around $15 million annually.
  10. Quality and Affordability: India is known for producing quality drugs at an affordable price, which has been a significant advantage for the country in the pharmaceutical industry.

In summary, India's pharmaceutical exports are thriving, primarily due to strong demand in the US market, despite concerns related to cough syrups and quality issues in some countries. India's reputation and size in the global pharmaceutical industry continue to make it a major player.