New Delhi : Even as the overall pharmaceutical exports from the country has registered around six per cent growth in 2022-23 as compared to the previous year, the exports of bulk drugs and drug intermediates registered a growth of more than double at 13.6 per cent. The growth was also significant compared to the rate at which the bulk drug exports grew in 2021-22, according to official data.
According to the Department of Pharmaceuticals, the bulk drug exports stood at Rs. 37,852.77 crore during the fiscal year 2022-23, as compared to Rs. 33,320.93 crore in the previous fiscal year of 2021-22, registering a 13.6 per cent growth. When compared, the year 2021-22, as compared to the Rs. 32,856.71 crore bulk drugs and drugs intermediates exports during 2020-21, had a 1.41 per cent growth.
The growth comes in a year in which the overall pharmaceutical exports was at Rs. 1,94,254.20 crore, which was a six per cent growth compared to the previous year’s Rs. 1,83,339.97 crore exports. The year 2021-22 registered a meagre 1.1 per cent growth from Rs. 1,81,260.76 crore overall exports during the year.
The drug formulations and biologicals exports during the year 2022-23 was at Rs. 1,56,401.43 crore, with a 10 percent growth compared to Rs. 1,41,634.12 crore during the previous fiscal year, according to data from DoP.
The government has been aiming at improving the exports of bulk drugs through various schemes and measures including to ensure quality of products.
For instance, the Department of Commerce has introduced a policy of track and trace system to ensure the authenticity of the exported finished pharmaceutical products, with mandatory barcoding on secondary and tertiary packages of export consignments. The Drugs and Cosmetics Act, 1940 was amended to provide stringent penalties for manufacture of spurious and adulterated drugs and certain offences have also been made cognizanle and non-bailable.
“The Drugs and Cosmetics Rules, 1945 have been amended making it mandatory that before the grant of manufacturing license, the manufacturing establishment is to be inspected jointly by the Drugs Inspector of Central Government and State Government,” said Union minister of state in the ministry of chemicals and fertilisers Bhagwanth Khuba.
The Drugs and Cosmetics Rules, 1945 have been amended, making it mandatory that the applicants shall submit evidence of stability, safety of excipients etc. to the State Licensing Authority before grant of manufacturing license by the Authority, added the Minister.
The Central government has recently said that under the production linked incentive scheme (PLI) scheme for bulk drugs, launched in the year 2020, a total of around Rs. 2,405.69 crore investment has been received in the country. Under the PLI for pharmaceuticals, launched in 2021, it has attracted investments of Rs. 18,618.09 crore and under the scheme for medical devices launched in 2020, another Rs. 837.23 crore, as part of efforts to attain self-reliance, boost domestic manufacturing and attract large investments in the sector.
The ministry of health and family welfare in June, this year, said that exports grew by 125 per cent from Rs. 90,415 crore in 2013-14 to Rs. 2,04,110 crore in 2022-23. Drugs and pharmaceuticals exports constitute 5.71 per cent of the total exports from India. India ranks 3rd worldwide for the production of drugs and pharmaceuticals by volume exporting to around 200 countries/territories with the top 5 destinations being the USA, Belgium, South Africa, UK, and Brazil.
India also accounts for 60 per cent of global vaccine production making it the largest vaccine producer in the world. India is also one of the biggest suppliers of low-cost vaccines in the world and is the largest provider of generic medicines globally, occupying a 20% share in global supply by volume. Further, India has supplied over 298 million Covid-19 vaccines to around 100 countries across the globe under Vaccine Maitri initiative (till May 19, 2023).
