India’s Pharma exports grow by 103% since 2013-14

Important Facts:

• India’s pharma sector witnessed a growth of 103% since 2013-14, from Rs. 90, 415 crores in 2013-14 to Rs. 1,83,422 crore in 2021-22.
• India’s pharma exports in 2021-22 sustained positive growth despite the global trade disruptions.
• The trade balance continues to be in India’s favor.
• The Indian pharmaceutical industry is the world’s 3rd largest by volume and 14th largest in terms of value.
• India’s top five pharma export destinations are the US, UK, South Africa, Russia, and Nigeria.
• The current market size of the domestic pharmaceutical industry is $50 billion.
• India allows 100% foreign direct investment (FDI) in greenfield (new) pharma projects under the automatic route. For brownfield pharma, or investments in existing companies, up to 74%, FDI is allowed under the automatic route, and approval is required beyond that.