Month: August 2016

  • The Indian pharmaceutical exports industry is growing steadily and the future looks even brighter. With fewer challenges and more opportunities for the Indian Pharmaceutical giants, the export sector is surely going to add to their business in a significant way. Trade experts feel that Indian companies need to keep up the innovation and aggression to stay ahead of competitors like China. The internal and external markets, both are showing buoyancy with a few signs of caution.Here are some key trends to watch out for: According to IBEF The Indian Pharmaceutical industry is set to reach $50 billion by the year 2016. Exports of pharmaceutical products from India is set to reach $20 billion according to a study conducted by ASSOCHAM research. In percentage terms, the Indian pharma generic exports grew faster than the worldwide pharma market between the 2012-13 and 2014-15. Here are some key strengths of the pharma industry in India: Strengths Of The Indian Pharmaceutical Exports The country has one of the lowest cost of manufacturing and is one of the fastest growing, as far as pharmaceutical products is concerned. The increasing support from the government for the pharmaceutical industry and a steady rate of growth in revenues, are all working in favour of the industry.There are 4 key competitive advantages of the Indian pharmaceutical industry include:  Availability of raw material Skilled workforce Low cost of innovation Extensive Distribution Network India has skilled technicians and pharma professionals who are adept at the English language. This helps in low cost of innovation, manufacturing compliance and documentation. The Generic Advantage The Indian pharmaceutical Industry mainly caters to the generic drug market. The main focus of pharmaceutical exporters in India includes: Generic Drugs Active Pharmaceutical Ingredients OTCs Patented Drugs Biosimilars India is among the largest exporters of generic drugs globally. The following data shows the...