Pharma exports declined by 4% in first five of current fiscal
HYDERABAD: Pharma exports from India registered a negative growth of 4 per cent during the first five months of the current fiscal owing to increased regulatory issues coupled with pricing pressure in global markets, a Pharmexcil official said.
According to Udaya Bhaskar, the Director General of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), a Ministry of Commerce and Industry body, the pharma exports to other countries witnessed a decline of
7.9 per cent during the April-July period while recovered to 4 per cent in August leaving the over all growth at minus four per cent till August this year.
"Till July, pharma exports registered minus 7.9 per cent growth. Subsequently it recovered in August and stood at minus four per cent. There was four per cent growth in August. Pricing pressure is one of the factors (for decline in exports). To some extent import alerts (by US FDA on Indian plants), regulatory issues and currency fluctuation, are some of the factors contributed to downward growth," Udaya Bhaskar told.
He, however, hoped that the overall exports will recover and come into positive zone for the full year as exports are expected to take an uptick from September.