Faced with slowdown in some key markets like North America and Europe coupled with increasing competition from China in the international markets, pharmaceutical exporters in India are seeking some urgent short-term measures from the Union Government, if not any subsidies or funds.
Representing the exporters, industry leaders and Pharmaceuticals Export Promotion Council of India (Pharmexcil) have already suggested short-term, medium-term and long term measures to revive the exports and sought the intervention of the Commerce Ministry.
As the short-term measures, they have asked for some rebates and cuts in duties for the exporters while suggesting that proposed venture funds and financial assistance can be launched as long-term measures. Immediate reliefs in the form of duty cuts would improve the morale of the exporters, they suggested.
The growth rate of pharmaceutical exports is expected to fall below 10 percent this year due to the slowdown in markets like North America and Europe. “Going by the initial reports in the first quarter of the current financial year, the rate cannot go beyond nine per cent,” pointed out Pharmexcil SME panel chairman Nipun Jain.
The growth of Indian pharma exports during 2012-13 halved to 10.55 per cent over previous year to $14.6 billion. During 2011-12 the exports stood at $13.2 billion registering a growth of 23.7 per cent over 2010-11, according to the figures from the Pharmexcil.
What has added pressure on Indian exporters is the increasing competition from China. “India has been the leader in supplying paracetamol world-wide. In the first three months of the current year, Indian company has not won even one contract for global supply and Chinese companies have bagged the orders instead,” an industry leader said, pointing out the trend.
Source:-www.pharmabiz.com
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