In the back drop of decline in India’s exports by 4.16 %, Commerce and Industry Minister Anand Sharma, has convened a meeting of Consultative Group on Exports of Pharmaceutical Products, today to review the status of Indian pharmaceutical exports and developments in the industry in the global market. The meeting with pharmaceutical industry players will discuss the ways to enhance shipments, promote 'Brand India' in global market and also to provide research and development in the sector.
Sharma emphasized the importance of maintaining quality, safety and efficacy of Indian medicines for the promotion of Brand India Pharma in important markets and to attain a leadership position in the world in exports.
India is the third largest producer of pharma products by volume and the industry is growing at a rate of 15% -20% annually. The domestic pharmaceutical industry has marked $20 billion and is expected to touch $75 billion by the end of this decade. While, India's pharma exports were about $13 billion last year, it remained to share one fifth of generic medicines market in the world.
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