India has continued to maintain its lead over China in pharmaceutical exports, according to the latest release from the Ministry of Commerce & Industry.
India’s pharma exports grew from $11.66 billion to $12.54 billion in 2015 recording a growth of 7.55%. Meanwhile, China increased its exports of pharma products from $6.59 billion to $6.94 billion exhibiting growth of 5.3% during the same period.
According to Ministry of Commerce & Industry, India moved ahead of China in all important markets such as US, European Union and Africa.
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“India’s exports of pharma products to US jumped from $3.84 billion to $4.74 billion, a growth of 23.4% as against China’s pharma exports to US which moved from $1.16 billion to $1.34 billion in the same period showing a growth of 15%,” the release said.
“India maintained its lead with growth in EU and Africa recording exports of $1.5 billion and $3.04 billion respectively while China’s exports to EU & Africa showed a declining trend in both the markets,” it added.