Indian pharma exports set to have double digit growth in FY17

India’s pharmaceutical exports have done better than many sectorial exports and are in near double digit growth, according to a government official.

“Last month, growth has also been good; it is about 8%. So I see that despite overall contraction and slowdown, pharma exports doing relatively better. I don't think that it (double digit growth) would be possible," said Sudhanshu Pandey, Joint Secretary, Ministry of Commerce, according to a web posting by Brand India Pharma, an initiative led by Pharmexcil (Pharmaceutical Export Promotion Council) and IBEF (India Brand Equity Foundation) under the aegis of the Department of Commerce.

Pharmaceutical exports were around $16.9 billion in 2015-16, a growth rate of 9.44% from previous year. In terms of international trends, Brexit - the UK’s move to leave the European Union - has not had such a great impact on pharma exports to Britain and other geographies as exports have stabilized in these regions.