.Increasing year on year .Exports to top 10 countries
PNS | Hyderabad
Nearly 18% of pharma exports from the country are from Telangana. At USD 4,446.78 million, pharmaceutical exports of Telangana during fiscal year 2021-22 accounted for 18% of India’s share of 24,594.27 million dollars.
The share of Pharma Exports from Telangana has been increasing from 14% in 2019-20, to 15% in 2020-21 and 18% in 2021-22.In 2020-2021, Pharma exports from Telangana cost 3,672.65 million USD while it was 2,972.25 million dollars in 2019-2020.
In 2020-2021, Pharma exports from India were 24444.03 million dollars while it was 20703.46 million dollars in 2019-2020 Union Minister of State for Commerce and Industry Anupriya Patel on Friday responded to a question in the Rajya Sabha raised by B. Parthasaradhi Reddy, a BRS MP.
The major destinations for Indian pharma products are the US, UK, South Africa, Russia, Nigeria, Brazil, Germany, France, Netherlands, Belgium. India’s pharma exports to these top 10 countries stood at Rs 12149.83 million dollars for 2021-22.
Listing the major steps/initiatives taken by the Government to increase Indian pharma exports and to explore new market avenues, Anupriya Patel said, “Financial assistance is provided under the Market Access Initiative (MAI) scheme of the Department of Commerce to develop new markets, to promote new products and new exporters as well as to consolidate the existing Indian exports markets.
The activities supported under the MAI scheme include organising/participating in fairs, exhibitions and buyer-seller meets abroad and reimbursement of expenditure incurred by exporters on statutory compliances such as product registration charges, plant inspection charges etc”.
Pharmaceutical products have been covered under RoDTEP Scheme (Remission of Duties and Taxes on Exported Products) with effect from 15 December 2022 under which the duties/ taxes/ levies paid by the exporters at the Central, state and local levels, that were not being rebated/refunded so far, will be refunded/rebated thus enhancing the export competitiveness of pharmaceutical industry.
“The recent trade agreements signed by India, namely, India-UAE Comprehensive Partnership Agreement and India-Australia Economic Cooperation and Trade Agreement have given wider market access for Indian pharmaceutical products,” she said
The MoS added, “The market access issues highlighted by Indian pharma exporters are regularly taken up with concerned partners through Indian Missions as well as through bilateral institutional mechanisms with these countries.”
