Rising export potential helps improve Indian pharma perceptions

The growing repute of India’s pharma industry has been underlined by the CPHI Annual Report, which showed the largest gains of any country in terms of survey respondents’ perceptions of growth potential and biologics knowledge.

According to the report, India is rated as having the second highest overall growth potential of any market globally and boasts the second-best score for perceived competitiveness, behind only the USA, underlying the work that has been done to align standards more closely with North America and Europe, as well as benefiting from the burgeoning biosimilars space.

The nation’s high-growth domestic market and expanding manufacturing exports were cited as major drivers of growth, and a separate report by the India Brand Equity Foundation has forecast that the country’s companies will see exports of $20 billion in 2020.