MUMBAI: USA is India’s largest pharmaceutical importer and imported pharma products worth USD 6.5 billion from India in 2018. However, India had a miniscule share of 5.6% in USA’s total imports of pharmaceutical products worth USD 116 billion from the world in 2018.
its robust pharmaceutical manufacturing capabilities, India has the potential
to enhance its pharma exports to USA. MVIRDC World Trade Center Mumbai has,
therefore, identified 10 products which constituted about 25% of USA’s pharma
imports from the world in 2018 at USD 29.6 billion and about 17% of USA’s
pharma imports from India in 2018, amounting to USD 1 billion.
imports of these products from India individually constituted a share of less
than 10% and more than 2% in USA’s imports of these products from the world in
2018. However, USA’s imports of these products from India cumulatively constituted
only 3.7% of its imports of these products from the world in 2018.
pharma exporters can increase their presence in the US market through exporting
agencies such as the USFDA often challenge Indian pharmaceutical manufacturing
standards. About 18 Indian pharma companies received USFDA warning letters for
their Indian plants in 2019, higher than 10 in 2018.
While encouraging Indian pharmaceutical manufacturers to explore the less-tapped export potential, Ms. Rupa Naik, Senior Director, MVIRDC World trade Center Mumbai suggests, “Indian pharmaceutical products are being demanded by many global healthcare programs owing to their affordability and availability. Still, India has a share of only about 2.4 per cent in global pharma exports. In order to comply with the rising expectations of global healthcare investigation agencies, our pharma manufacturers will have to adhere to rigorous quality testing standards, which will in turn enhance our share in global pharma exports.”
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
2014 The Global Indian New Network (TGINN)