Indian Pharma Exports Clock 18% Growth In FY20-21; Highest In 8 Years

India has recorded a steep growth of 18.07% in drugs and pharmaceutical exports, said Pharmaceutical Export Promotion Council of India (Pharmexcil). According to the Department of Commerce, Government of India, for the financial year 2020-21, India exported pharmaceutical goods worth $24.44 billion which is the highest export in the past eight years. Despite the pharmaceutical market showing a decline of 1-2% in 2020 globally, the demand for Indian goods rose due to the affordability and the quality. Pharmexcil Director General Udaya Bhaskar said the country was able to trade in 40 countries through virtual business meetings during the pandemic. Reportedly, the goods were exported highest (34%) to North America followed by South Africa and Europe with 28% and 11% respectively.