Pharma exports rise by 4.22% to $14.57 billion during April-October in current fiscal

USA, Canada and Mexico (NAFTA countries), Europe and Africa account for 67.5% (nearly $5 billion) of the total exports.

Pharmaceutical exports from India registered a growth of 4.22% to reach $14.57 billion during the April-October period despite a negative trend last month, according to a senior official of an export promotion body under Government of India.

Udaya Bhaskar, Director General of Pharmaceuticals Export Promotion Council of India (Pharmexcil) which is an organisation under the Ministry of Commerce, said he was hopeful of ending the current fiscal at around $27 billion as against $24.62 billion during the last financial year.

"There was a dip (-0.32%) in July and (-5.45%) and there was 8.47% positive growth in September. I am optimistic that it will be revived in the coming months and may touch USD 27 billion at the end of the fiscal," Mr. Bhaskar told PTI.

During the same period last fiscal, the exports fetched $13.98 billion.

USA, Canada and Mexico (NAFTA countries), Europe and Africa account for 67.5% (nearly $5 billion) of the total exports.

"Our exports in the category of vaccines are in a very bad shape. Despite the above and Russia-Ukraine war factors, we are on a positive side," he further said.

In October, exports fell by 5.45% to $1.95 billion.