Preet Mohinder Singh Bedi
Guru Nanak Dev University, India
Title: Regulations on export and manufacture of drugs in India
Biography
Biography: Preet Mohinder Singh Bedi
Abstract
Exports form a vital component of the growth strategy of most Indian pharmaceutical companies. The industry has made rapid strides in this area in the last few years and export sales of companies such as Ranbaxy have been growing at a faster rate than their domestic sales. The compounded annual growth rate of pharmaceutical exports over the last five years has been more than 20 percent although in 2000-2001, exports grew by 11 percent. While overall pharmaceutical exports have grown, India’s exports to a few of its leading markets have declined. For instance, India’s pharmaceutical exports to USA have declined to Rs. 671.8 crores in 1999-2000 from Rs. 724 crores in 1998-99; Germany to Rs. 325 crores from Rs. 375 crores. Notwithstanding the decline in exports to some key markets, India’s export prospects remain bright. The potential for growth is enormous, annual growth in exports over the next five years will take the overall export figure to $4 billion.