PHARMA EXPORTS CROSS $ 5 BILLION
Date : 06 Feb 2004
Location : New Delhi
Exports of basic chemicals, pharmaceuticals, cosmetics and related items have crossed the US $ 5 billion mark, by touching a figure of US $ 5360 million ($ 5.36 billion) during 2003-04. Exports in 2001-02 and 2002-03 were of the order of US $ 4.4 billion and $ 4.5 billion respectively. This was indicated by Shri S. K. Jindal, Regional Chairman, Basic Chemicals, Pharmaceuticals & Cosmetics Export Promotion Council (CHEMEXCIL), in New Delhi. He also indicated that exports in this sector will cross the target of $ 5.5 billion during 2004-05
Shri Satish Wagh, Chairman, CHEMEXIL, said his Council’s vision presented to the Ministry of Commerce has projected an ambitious export target of Rs. 61,000 crore. By 2006-07 for all the items of export of CHEMEXCIL, drugs & pharmaceuticals will alone account for Rs. 24,000 crore, Shri Wagh informed.
CHEMEXCIL is "a service oriented organisation’ for providing export support:
One point source/gateway of information for sourcing any chemical pharmaceutical, dyes etc. from India.
Establishes a bridge between international conglomerates and Indian stalwarts to develop into lucrative ties by organising foreign delegations, buyer-seller meets and participating in fairs.
Provides commercially useful information for enhancing exports and helping international companies wanting to set up a production base in India by matching joint venture partners.
Acts as a major interface between the exporting community and the government at the central and state level.
Undertakes export promotion activities and market surveys to enhance the exports to thrust areas.
An interactive website (www.chemexcil.gov.in) that provides instant handshakes between foreign buyers and potential Indian exporters along with a host of related services.
The pharmaceutical industry in India is estimated at around US $ 4.75 billion. This industry is divided into formulation sales 57%, bulk drugs sale 15% and exports 28%. It ranks amongst the most developed in the third world countries in terms of quality, technology and range of products. It ranks 4th in volume and 14th in value terms.
The factors that contribute to advantage India are mainly strong intellectual capital base of technical manpower having entrepreneurial skills, large patient base to conduct international clinical trials, USFDA/WHO compliant manufacturing facilities, strong base in bulk drug manufacture, fall back situation with reference to R&D as 10% of researchers and 15% of USA scientist in the field of biotechnology and pharmaceuticals are of Indian origin.
Shri Jindal, said that the new Budget has been very enlightening and has paved the way for long-term benefits. He said that the Council will put in its best endeavours to enhance the growth of its products and has recorded a 19.6% growth which no other product has achieved. He also praised the efforts of the Ministry of Commerce & Industry to organise a day-long workshop on guidelines of MAI (Market Access Initiative) and MDA (Market Development Assistance) with all the Export Promotion Councils and give so much facilities.