To which countries did India export Pharmaceuticals, in 2021?
India is a major player in the global pharmaceutical and vaccine industries. It is the world’s largest supplier of generic medications. Major importers of Indian pharmaceuticals are the USA (33.37%), South Africa (2.84%), the UK (3.17%), Nigeria (2.62%), Russia (2.47%), Canada (1.83%), Germany (1.63%), Brazil (1.93%), Australia (1.84%), France (2.13%) in 2021–22.
India is a major player in the global pharmaceutical and vaccine industries. The country makes around 60% of the world’s vaccines and provides 20% of the world’s pharmaceuticals, ranking 3rd in terms of volume and 14th in terms of value.
OTC medications, generics, APIs, vaccines, biosimilars, and custom research manufacturing are key areas of the Indian pharmaceutical business (CRM). India is the world’s leading supplier of vaccinations such as DPT, BCG, and measles. Furthermore, India is one of the world’s leading suppliers of low-cost vaccinations. India’s biggest pharmaceutical exports are medicine formulations and biologicals, which make up about 75% of India’s total pharmaceutical exports.
India accounts for 5.92% of the worldwide pharmaceutical and medicine market. The bulk of India’s exports (73.31%) were made up of drug intermediates and bulk medicines, followed by formulations and biologics.
In 2021–22, the country exported pharmaceutical items worth US$ 24.62 billion, a 2% increase over the previous year. Exports increased by 18% year on year to US$ 24.4 billion in 2020–21. This strong result was accomplished despite worldwide supply chain interruptions, lockdowns, and decreased manufacturing.
The United States, the United Kingdom, South Africa, Russia, and Nigeria are the top five places where India sells its pharmaceutical goods. During the Covid-19 outbreak, India exhibited its capacity to be a constant and trustworthy pharma supplier to the world, even in times of crisis.
Read more @ International trade Profile Of India
