{"id":62472,"date":"2024-05-30T17:24:52","date_gmt":"2024-05-30T17:24:52","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/30\/pharma-exports-grew-10-to-28-billion-in-fy24-poised-to-hit-31-billion-in-fy25-pharmexcil-times-of-india\/"},"modified":"2024-05-30T17:24:52","modified_gmt":"2024-05-30T17:24:52","slug":"pharma-exports-grew-10-to-28-billion-in-fy24-poised-to-hit-31-billion-in-fy25-pharmexcil-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/30\/pharma-exports-grew-10-to-28-billion-in-fy24-poised-to-hit-31-billion-in-fy25-pharmexcil-times-of-india\/","title":{"rendered":"Pharma exports grew 10% to $28 billion in FY24, poised to hit $31 billion in FY25: Pharmexcil &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"225\" src=\"https:\/\/i2.wp.com\/static.toiimg.com\/thumb\/msid-110571890,imgsize-922556,width-400,resizemode-4\/110571890.jpg?resize=400,225&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Pharma exports grew 10% to  billion in FY24, poised to hit  billion in FY25: Pharmexcil &#8211; Times of India\" title=\"Pharma exports grew 10% to  billion in FY24, poised to hit  billion in FY25: Pharmexcil &#8211; Times of India\" \/><\/div><p> <br \/>\n<\/p>\n<div data-articlebody=\"1\">\n<div class=\"T22zO\">\n<section class=\"D3Wk1  clearfix id-r-component leadmedia undefined undefined  VtlfQ\" style=\"top:0px\">\n<div class=\"D3Wk1\">\n<div class=\"zPaFh\">\n<div class=\"wJnIp\"><\/div>\n<\/div>\n<\/div>\n<div class=\"cj2hz img_cptn\"><span title=\"India\u2019s pharma industry is poised to grow to around $130 billion by 2030 (Representative Image\/ Reuters)\">India\u2019s pharma industry is poised to grow to around $130 billion by 2030 (Representative Image\/ Reuters)<\/span><\/div>\n<\/section>\n<\/div>\n<p>HYDERABAD: <!-- -->India\u2019s pharmaceutical exports<!-- --> clocked a nearly 10% growth in FY24 to hit $27.8 billion, propelled by the <!-- -->double digit growth<!-- --> in the US and UK <!-- -->generics market<!-- -->, and is poised to reach $31 billion in the current fiscal year, a top official of Pharmaceuticals Export Promotion Council of India (<!-- -->Pharmexcil<!-- -->) said on Thursday.<br \/>India\u2019s <!-- -->pharma industry<!-- -->, which is currently pegged at around $65 billion, is poised to grow to around $130 billion by 2030, Pharmexcil director general Ravi Uday Bhaskar said at the inaugural of the 10th edition of PharmaLytica here.<br \/>Pointing out that 50% of the Indian pharma sectors exports go to highly regulated markets, Bhaskar said exports to US grew over 15.6% to over $ 8.7 billion in FY24 due to shortages in drug manufacturing capacities and the increasing demand for drugs pertaining to lifestyle diseases such as hypertension, depression, diabetes in the US.<br \/>He said exports to the UK saw a 21.6% growth partly due to the increased cost of drugs, which were earlier sourced from Europe, post-Brexit.<br \/>Apart from this, Africa showed a positive turnaround during FY24, from a degrowth of 5% to a growth of 8% as NGOs, who had diverted their funds meant for Africa towards Covid-19 vaccines and medicines, restarting procurement of drugs, he said.<\/p>\n<\/div>\n<p><script>!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        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<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s pharma industry is poised to grow to around $130 billion by 2030 (Representative Image\/ Reuters) HYDERABAD: India\u2019s pharmaceutical exports clocked a nearly 10% growth in FY24 to hit $27.8 billion, propelled by the double digit growth in the US and UK generics market, and is poised to reach $31 billion in the current fiscal 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