Free Demo

China accounts for 66% of India's bulk drug imports in FY'17

19-Mar-2018
China accounts for 66% of India's bulk drug imports in FY'17

China accounted for 66 per cent of India's total bulk drug imports in 2016-17 at Rs 12,254.97 crore, Parliament was informed today. 

Bulk drug import from the neighbouring nation stood at Rs 13,853 crore in 2015-16, accounting for 65.2 per cent of the total import, Union Minister Mansukh L Mandaviya said in a written reply in Lok Sabha. 

Citing data from DGCIS Kolkata, he said total bulk drug imports in 2016-17 stood at Rs 18,372.54 crore. 

"The imports are mainly done for economic consideration and there are various manufacturers who could substitute in case of interrupted supply from China," the minister said when asked if interrupted supply from the country could lead to drug shortage in India. 

Stating that various measures have been taken to reduce imports, Mandaviya said the Standing Finance Committee (SFC) on February 7, 2018 approved a scheme for development of pharmaceutical industry under which one of the components is financing common facilities in bulk drug parks. 


This would help in reducing cost of production and result in better availability of cheaper medicines for patients," he added. 

Moreover, in January 2016, the government had withdrawn exemption in customs duties which were earlier given to certain categories of bulk drugs to help domestic manufacturers, the minister said. 

"Further, the government has removed bottlenecks in environment clearance etc, which the manufacturers are facing, in order to boost domestic manufacturing of bulk drugs," Mandaviya, the minister of state for chemicals and fertilisers said. 

Further, the government has removed bottlenecks in environment clearance etc, which the manufacturers are facing, in order to boost domestic manufacturing of bulk drugs," Mandaviya, the minister of state for chemicals and fertilisers said. 

Source:-Economictimes.indiatimes.com

High-volume of Loyal and Trusted Customers!

We feel proud in offering export-import data information services to our respected clients.

Obtain a free import-export sample report on desired products.

We do not provide any assistance directly in selling or Buying any product.

Thank You

Big thanks to showing your interest in SEAIR Exim Solutions. We’ve currently received your request for data information. We will return on the same query in a short span of time.

Top