New Delhi, Mar 12 (KNN) India’s pharmaceutical sector has achieved a significant global milestone, ranking 11th worldwide in export value during 2023 and capturing 3 percent of the global pharmaceutical export market, according to a research report published by Bain and Company.
The fourth quarter of fiscal year 2025 witnessed a notable surge in pharmaceutical exports, with Contract Development and Manufacturing Organisations (CDMOs) emerging as primary growth drivers for the sector.
Despite this positive development, the generic drug segment continues to face significant pressure, with the sluggishness observed in the second and third quarters extending into the fourth quarter and adversely affecting overall performance in this category.
Union Minister of State for Chemicals and Fertilisers, Anupriya Patel, addressed regulatory measures during a written reply in the Rajya Sabha, outlining various initiatives implemented by the Central Drugs Standard Control Organisation (CDSCO) and the Ministry of Health and Family Welfare to maintain high standards of quality, safety, and efficacy in pharmaceutical products.
The Minister highlighted that the Central Government regularly conducts residential and regional training programs and workshops for officials from CDSCO and State Drug Regulatory Authorities, focusing on Good Manufacturing Practices.
Additionally, the government coordinates activities between State Drug Control Organisations and provides expert guidance through Drugs Consultative Committee meetings.
Patel also referenced several amendments to existing legislation, including modifications to The Drugs Rules, 1945, and the Drugs and Cosmetics Act, 1940, which aim to create a more favorable business environment for industry participants.
Industry experts have expressed concern regarding recently enhanced tariffs on pharmaceutical imports, warning that these measures could significantly impact Indian pharmaceutical companies by increasing production costs and potentially reducing the competitiveness of Indian exports compared to products from other countries.
The situation has gained particular relevance following US President Donald Trump’s recent announcement that reciprocal tariffs on countries imposing high duties on US products will take effect on April 2.
President Trump specifically identified India as a nation with high tariff rates on imported goods.
(KNN Bureau)
