Last Updated on October 15, 2024 by The Health Master
Bulk Drugs
India’s pharmaceutical industry, a global powerhouse, continues to show a growing dependence on China for its supply of bulk drugs and drug intermediates.
The first quarter of the current fiscal year has seen a significant uptick in imports from the neighboring nation.
Imports Surge, China’s Share Grows
Overall imports of bulk drugs and drug intermediates to India rose by a commendable 8.84% during the April-June 2024 quarter compared to the same period last year.
However, it’s the import figures from China that truly stand out.
These imports experienced a robust 10.8% growth, solidifying China’s position as India’s primary supplier in this critical sector.
- Dominant Chinese Share: China’s contribution to India’s bulk drug imports is staggering, accounting for a massive 72-74% of the total imports during the quarter.
- Quantity Matters: Not only in value but also in volume, China holds a commanding position, supplying 79.4% of the total quantity of bulk drugs and drug intermediates imported by India.
Financial Implications of the Import Trend
The financial data paints a clear picture of India’s growing import bill for bulk drugs.
- Dollar Value: Total imports climbed to $1.16 billion in the first quarter of 2024-25 from $1.07 billion in the same period last year.
- Chinese Imports: India’s import bill from China surged to $858.70 million, up from $774.96 million in the previous year.
- Rupee Terms: The import value in Indian Rupees also witnessed a substantial increase, reaching Rs. 9,712.44 crore compared to Rs. 8,824.64 crore in the corresponding quarter of the previous fiscal.
A Mixed Bag for Indian Drug Exports
While the import scenario is dominated by China, India’s drug exports have shown a more modest performance.
- Slight Export Growth: Bulk drug and intermediate exports grew marginally to $1.13 billion (Rs. 9,447.32 crore) in the first quarter of 2024-25 from $1.12 billion (Rs. 9,253.92 crore) in the same period last year.
- Quantity Stagnation: The quantity of exports remained relatively unchanged at 1.10 lakh metric tonnes.
Broader Pharmaceutical Trade Scenario
To get a complete picture, it’s essential to look at the overall drug and pharmaceutical trade.
- Export Growth: The broader category of drugs and pharmaceuticals witnessed a 9.3% export growth in the first quarter, reaching $7.20 billion.
- Import Rise: However, imports in this sector also jumped by 12.4% to $2.15 billion.
Disclaimer: This article contains information derived from the source mentioned below. Our team utilized an AI language model to rewrite and present the news or article in a unique format.
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