Indian pharma exports to USA surge

Indian pharma exports to the US market are rebounding strongly in the current fiscal year, showing a notable double-digit growth after a lull.

Total pharmaceutical exports jumped 9.34%, reaching $25.04 billion during April to February of financial year 2023-24, compared to $22.90 billion in the corresponding period of the previous fiscal year. The resurgence is underscored by a remarkable 15.04% rise in exports to the USA, totaling $7,834 million during the April to February period of the current fiscal year, compared to $7547 million in the same period last year.

Despite facing regulatory hurdles and pricing pressures, there is a clear indication of a rebound, R Uday Bhaskar, director general of the Pharmaceutical Export Promotion Council (Pharmexcil) said, indicating a positive trajectory.