Categories: Business

India pharma exports miss target due to coronavirus

Photo: PTI

Pharma Export

new Delhi. Kovid-19 hit the country's pharmaceutical exports during the last financial year. In the last fiscal year 2019-20, pharma exports stood at $ 20.58 billion, as against the target of $ 22 billion. In spite of this, the statement issued by the Pharmaceutical Export Promotion Council under the Ministry of Commerce said that despite this, the pharma exports in the last financial year has been 7.57 percent higher than in 2018-19. Council said that from the point of view of pharmaceutical exports, the beginning of 2019-20 has been very good. Exports grew by 11.5 percent overall during the first three quarters. But thereafter, the growth rate of exports declined to 7.7 percent in February and it declined by 23.24 percent in March. This led to a 2.97 percent decline in exports in the fourth quarter.

The council said that in the last three years, the pharma export target was set at $ 22 billion in view of the improved trend of exports and price stability in the US during the first three quarters. But pharma lagged behind the export target due to the outbreak of the Kovid-19 epidemic.

This post was published on May 9, 2020 4:41 am

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