Pharma Exports Up 9.7 Per Cent, 33 Per Cent Growth In Us Markets In Fy16

MUMBAI: The country's pharmaceutical exports reported a 9.7 per cent jump and nearly 33 per cent growth in US markets in FY16, Union Commerce Secretary Rita Teaotia said today.

The country's pharma exports stood at Rs 96,000 crore during 2014-15.

"The country's pharmaceutical exports is one of the good stories of Indian exports. We have registered 9.7 per cent jump and 33 per cent growth in exports to US market. We see lot of growth potential of pharma exports in coming years," Teaotia told PTI after inaugurating iPHEX 2016 conference here.

Indian industries have managed to maintain and increase their market share in most of the sectors despite countries all over the world experiencing fall in exports, Teaotia said adding that despite the US FDA issues faced by the several domestic pharma companies last year, the huge exports growth of 33 per cent shows our companies are capable of taking challenges.

The three-day iPhax 2016 an international exhibition for pharma and healthcare opened today was jointly organised by Pharmaceuticals Exports Promotion Council of India (Pharmexcil) and Ministry of Commerce and Indusry.

Generic drugs form the largest segment, with 75 per cent of market share (in terms of revenues), of the Indian pharmaceutical sector. India supply 20 per cent of global generic medicines market exports in terms of volume, making the country the largest provider of generic medicines globally and expected to expand even further in coming years. Over the Counter (OTC) medicines and patented drugs constitute 21 per cent and 9 per cent, respectively, of total market revenues of USD 20 billion, Pharmexcil Chairman Ashutosh Gupta said.

"Objectives of iPHEX converges with the idea of creating business opportunities to all with a novel cause of taking care of health of citizens globally. Visits of regulatory officials would help to provide better insights into drug regulatory framework and understands each other's benchmarks of standards and quality compliances," Teaotia added.

Over the years, Indian pharma has earned a credible reputation and especially in generics in global market place.

India has emerged as credible source for quality and affordable medicines. Over 55 per cent of India's export is to highly regulated markets. In order to take Indianpharma to next level in the International market arena, Ministry of Commerce took initiative to position India as hub for affordable, credible and sustainable source of pharmaceutical products.

Over 600 overseas business visitors, from over 100 countries, including regulators, senior health officials, key representatives from NGOs are participating in iPHEX 2016.

 

Source :economictimes.indiatimes.com

Rajesh Exports Wins Rs 780-Cr Export Order

NEW DELHI: Jewellery exporter and retailer Rajesh ExportsBSE 0.88 % today said it has won an export order worth Rs 780 crore from Singapore.

In a BSE filing, Rajesh Exports said it "has bagged an export order worth Rs 780 crore of designer range of gold and diamond-studded jewellery and medallions from Singapore".
 

 

Source :economictimes.indiatimes.com

India May Become Net Importer Of Sugar As Drought Parches Fields

 India is likely to become a net importer of sugar in 2016-17 as back-to-back drought years dry irrigation channels and ravage cane fields, with output in the country’s biggest producing state seen dropping over 40 per cent.

That would mark the first time the nation has been a net importer of the sweetener in four years, with the switch likely to support global prices that have already been rising this year.

It would also give rival producers such as Pakistan, Thailand and Brazil the chance to boost shipments from their ports.

“India will need to import next year due to a production shortfall,” Ashok Jain, President of the Bombay Sugar Merchants Association (BSMA), told Reuters.

“Drought has severely affected cane plantations in Maharashtra. The government should stop exports now to reduce import requirements in the next season.”

The El Nino weather phenomenon, which brings dry conditions to many regions, has stoked the worst drought in decades in some parts of India, with thousands of small-scale sugar cane growers in Maharashtra State failing to cultivate crops for the next marketing year, starting October.

“Even for drinking water we are relying on water tankers. It wasn't possible for anyone from our village to cultivate cane,” said Baban Swami, a farmer standing in a parched field in the Latur district of Maharashtra, around 500 km southeast of Mumbai. That could help push overall output below consumption for the first time in seven years.

“Next year, Maharashtra’s production could drop below 5 million tonnes. This may pull down the total output to 22.5 million tonnes,” said B. B. Thombre, President of the Western India Sugar Mills Association. Next season’s local consumption is pegged at around 26 million tonnes.

The world’s biggest sugar consumer is set to churn out 25.7 million tonnes in the current season, with Maharashtra contributing 8.5 million tonnes. Indian mills are contracted to export nearly 1.5 million tonnes this season.

“I think there is a possibility we could see imports to India next year,” said Tracey Allen, a commodity analyst at Rabobank in London.

Indian imports have in the past boosted global sugar prices, traders said.

“The global supply deficit is going to rise with the Indian shortfall. This could trigger a rally, although a lot depends on how much sugar India needs to import,” said a Singapore-based dealer with a global trading firm.

He declined to be identified as he was not authorised to speak with media.

Meanwhile, analysts were divided over whether India would cut its 40-per cent import duty on raw sugar.

Some said mills would ask for the tax to remain unchanged so domestic prices would rise further, while others said the food ministry could push for a duty-cut to relieve inflationary pressures.

“Duty free imports are required to arrest price rises,” the BSMA President said.

Source :.thehindu.com

 

 

India Bans Import Of Goods From China: List Of Top 5 Imports Of India

The government of India put a ban on the import of various goods from China including some electronic items, specific mobile phones, milk and milk products and some steel products on April 25, 2016.

According to some online media reports, the ban came after Union Commerce Minister Nirmala Sitharaman said that the import of such items from China has been harming India's small and medium enterprises. Quality concerns have also been cited as one of the reasons for the ban.  

Union Commerce Minister reportedly said that specific actions have been taken by the government on these Chinese imports to implement the ban precisely.

India imports around 6000 commodities from 140 countries. In 2015, India imported USD 390.7 billion worth of commodities.

Following is a list of top five imports of India from the world:

1.Crude oil: The import of petroleum crude to the country accounts for about 34 percent of the total inward shipments.

2.Gems and precious metals: The country also imports gold and silver which accounts for 12 percent of the total imports.

3.Machinery: This makes around 10 percent of the total imported goods in the country.

4.Electronic equipment: The import of electronic goods including smart phones in the country grew from USD 2.85 billion in May to USD 4.38 billion in September 2015. This accounts to around 7 percent of the total imports.

5.Pearls, precious and semi-precious stones: India imports natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metal and its products, which accounts for five percent of the country's total imports.

 

Source :indiatoday.intoday.in

India's Gems And Jewellery Exports Decline On A Global Economic Slowdown

India's gems and jewellery (G&J) exports declined in the financial year 2015-16 due to a slowdown in global economy despite a small pick up witnessed from the United States, the world's largest consumer of luxury goods.

Data compiled by the apex body the Gems & Jewellery Export Promotion Council (GJEPC) showed India's net G&J exports at $31.98 billion (Rs 2,09,593.83 crore) in FY 2015-16 as compared to $36.22 billion in the previous year, witnessing a decline of 5.3%.

The fall in G&J shipment was largely driven by a sharp fall in exports of cut and polished diamonds, which recorded 7.47% slump in dollar term at $19.99 billion in FY16, as against $23.16 billion in FY15.

In rupee terms, however, cut and polished diamond exports slumped by a steep 13.66% to Rs 1,30,938.07 crore in FY 16 as against Rs 1,41,514.28 crore in the previous year.

The decline in cut and polished diamond was partly compensated by a surge in silver jewellery exports, which grew by a staggering 44.17% in FY16.

 

 

source :business-standard.com

Removal Of Subsidies On Cotton To Benefit Indian Exports: Government

NEW DELHI: The decision taken at the World Trade Organisation's 2015 Nairobi Ministerial to eliminate export subsidies on cotton will benefit Indian shipments of the crop, the government said on Wednesday.

it will create a level playing field for our farmers, who were not entitled for it but other developed countries were providing the same as scheduled, as per the rules," the commerce department said.

The Nairobi Ministerial decision on cotton and export competition resulted in a commitment by developed countries to immediately eliminate their export subsidies, while developing countries were required to do so by January 1, 2017.

However, India is not a major user of export subsidies and as per notifications to the WTO, the country has not provided any financial support for cotton between FY07 and FY10.

 

Source :economictimes.indiatimes.com