India's pharma exports record CAGR of 21.25 per cent in FY'07-FY'09

Export of pharmaceutical products from India increased from Rs26,895 crore in 2006-07 to Rs30,760 crore in 2007-08 and to Rs39,538 crore in 2008-09 - a combined annual growth rate (CAGR) of  21.25 per cent.

Revealing this in the Lok Sabha in a written reply on Friday, minister of state for commerce Jyotiraditya M Scindia said pharmaceutical exports from the country have recorded growth rates of 21.61 per cent, 14.37 per cent and 28.54 cent, respectively, in the three consecutive years of 2006-07, 2007-08 and 2008-09.

The minister attributed the high growth rate to various export promotion measures undertaken by the government.

The various export promotion activities under the new Foreign Trade Policy had the desired result of increasing exports of drug and pharmaceuticals, as is evident from the growth rates, the minister said.

The central government provides assistance under Market Development Scheme (MDA) and Market Access Initiative (MAI) Scheme to all Indian exporters, including exporters of pharmaceutical products.

Besides this, pharmaceutical industry can avail of various trade promotion schemes like Focus Market Scheme, Market Linked Focus Product Scheme etc in the Foreign Trade Policy (FTP) 2009-14, he said

A task force constituted by the government has submitted a report recommending wide ranging measures for increasing production and exports of pharmaceutical products from India, the minister said, adding that the concerned ministries and departments are following up these recommendations.