New Delhi: Imports of bulk drugs and drug intermediates to the country have grown 8.84 per cent while the imports from China reported a higher 10.8 per cent growth during the first quarter of the current fiscal as compared to the same period of last year.
The imports from China account for almost 72-74 per cent of the overall imports of bulk drugs and drug intermediates during the quarter. In terms of quantity, the imports from China accounted for 79.4 per cent of the overall imports of the commodity.
The overall imports of the principal commodity to the country during the first quarter ended June, 2024 was at $1.16 billion as compared to $1.07 billion in the same period of last year.
Imports from China, during the first quarter grew 10.8 per cent to $858.70 million as against $774.96 million imports during the corresponding quarter of previous fiscal year.
In terms of quantity, the imports grew almost 17 per cent to 1.25 lakh metric tonne, as against 1.07 lakh metric tonne during the same quarter of previous fiscal, according to data from the ministry of commerce and industry.
The imports from China in terms of quantity registered a growth higher than the total import growth, at 22.18 per cent during the quarter.
India imported 99,325.5 metric tonnes of bulk drugs and drug intermediates during April to June, 2024, as compared to 81,294 metric tonnes imported in the same period a year ago from China.
In Rupee terms, imports have reported a growth of 10 per cent during the quarter, to Rs. 9,712.44 crore during April to June, 2024 compared to Rs. 8,824.64 crore during the same period of previous year. Imports from China, in Rupee terms grew 12 per cent to Rs. 7,163.37 crore as compared to Rs. 6,393.74 crore during the same period last year.
Exports of bulk drugs and intermediates, on the other hand, reported a marginal growth to $1.13 billion (Rs. 9,447.32 crore) during the quarter from $1.12 billion (Rs. 9,253.92 crore) in the same period of previous fiscal year. The quantity of exports remained the same at 1.10 lakh metric tonne as compared to 1.11 lakh metric tonne in April to June, 2023.
It may be noted that the ministry of commerce has recently said that exports of drugs and pharmaceuticals from the country registered a 9.3 per cent growth in the first three months of the fiscal year from April to June, 2024, while imports reported a jump of 12.4 per cent, compared to the corresponding quarter of previous year.
The exports during the three months stood at $7.20 billion, as against $6.59 billion in the same period of previous fiscal year. During the month of June, the exports registered a 10 per cent growth at $2.47 billion as compared to $2.25 billion reported in the same month of last year.
Imports of drugs and pharmaceuticals, on the other hand, reported a growth to $2.15 billion during the three months, as compared to $1.95 billion in the same period of previous fiscal year. For the month of June, exports stood at $708.44 million as compared to $666.40 million registered in the corresponding month of previous year, with a 6.31 per cent growth.
In Rupee terms, the exports for the three month ended June, 2024 registered a growth of around 11 per cent to Rs. 60,083.82 crore as compared to Rs. 54,178.58 crore during the corresponding period of last year. The month of June reported 11.6 per cent growth in exports at Rs. 20,603.38 crore, as compared to Rs. 18,464.89 crore during the same month of previous fiscal year.
