Indian pharma exports surge to $1.2 bn in first 3 quarters of 2008-09

The pharmaceutical exports from India for the first nine months of the fiscal 2008-09 have peaked upto $1.2 billion, despite a slowdown in overseas trade across all industries owing to recessional fears.

Total exports in pharmaceutical products from India in December 2008 surged by 46.3 per cent to 1.01 billion dollars from 609 million dollars in the same month of the previous fiscal, according to Pharmaceuticals Exports Promotion Council (PHARMEXCIL) – separate governing body to oversee pharma exports under the Ministry of Commerce & Industry.

The overseas sales in the first nine months of 2008-09 went up by 21 per cent to 8.44 billion dollars against 6.97 billion dollars in 2007-08.

“Indian pharmaceutical sector has performed satisfactorily during April-December 2008-09 by registering a growth rate of 28.1 per cent in rupee terms and 21 per cent in dollar terms over the corresponding period of the previous year,” PHARMEXCIL Chairman Venkat Jasti stated in a press report.

In rupee terms, shipments stood at Rs 4,934 crore in December, while during April-December 2008 it was Rs 36,877 crore, according to Jasti.

“In the current economic slowdown, the 21 per cent growth in dollar terms in nine months of fiscal 2008-09 was a good growth,” said DG Shah, secretary general of Indian Pharmaceutical Alliance – the conglomerate of leading Indian pharma companies.

Indian pharma companies export their produces to more than 150 countries across the world including the US, Europe, South Africa, Brazil and Canada.