While Indian exports to China are $230 million, the opportunity for exporters is to reduce import dependency on active pharma ingredients (APIs) and intermediates which is about $2.5 billion.
Despite slowdown across industries, the Indian pharmaceutical sector is upbeat on exports following the signs of revival in the US market. Drug prices seem to have stabilised in the US market, which is the largest market for exports. Exports are likely to touch $22 billion in 2020 from $19.14 billion in FY19.
The next market opportunity for exporters is China which was recently ...
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