The Indian pharmaceutical exports ranked 11th globally in value terms in the year 2023 and accounted for 3% of the total pharmaceutical exports, said Bain and Company in a research report.
In the Q4 of FY25, exports shoor with Contract Development and Manufacturing Organisations (CDMO) emerging as key growth drivers.
However, the generic drug segment remains under pressure. The sluggishness observed in Q2 and Q3 persisted in Q4, impacting overall performance in this category.
Union Minister of State for Chemicals and Fertilizers, Anupriya Patel, in a written reply in Rajya Sabha highlighted various measures taken by the Central Drugs Standard Control Organisation (CDSCO) and the Ministry of Health and Family Welfare to ensure the quality, safety and efficacy of medicines.
The MoS said that the Central Government is providing regular residential, regional training and workshops to officials of CDSCO and State Drug Regulatory Authorities on Good Manufacturing Practices.
The Centre also coordinates activities of State Drug Control Organisations and provides expert advice through the Drugs Consultative Committee meetings.
She also highlighted some of the amendments made in the laws like The Drugs Rules, 1945, Drugs and Cosmetics Act, 1940, providing smooth business grounds to the players.
Amid this, experts have indicated that the enhanced tariffs levied on pharmaceutical imports will severely impact Indian pharmaceutical companies as it would lead to higher production costs, making shipments less competitive against products from other countries.
Notably, the US President Donald Trump recently said that reciprocal tariffs on countries that impose high tariffs on US products will come into effect on April 2. He had termed India as a high tariff-imposing nation.