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Indian Pharmaceutical exports Report

In recent years, the Indian Pharmaceutical market has seen substantial growth in the import-export sector. The high demand for Indian Medicines has witnessed the growth of the pharmaceutical sector. 

According to the Exim Trade Data, India is the world’s largest exporter of Generic medicines throughout the world and contains an overall 20% export percentage in the global generic market. 

India is leading the 3rd rank in terms of the production of Pharmaceutical goods, and the 14th largest in terms of value. 

In this blog, we will give you information about Indian Pharmaceutical exports in which we have explained in-depth the pharmaceutical export market and their expected growth.  

India is the country that is named the “Pharmacy of the world” because they are exporting more generic drugs around the globe compared to other countries. Even we can say that almost every country are preferring Indian Pharmaceutical goods more than others. 

Before the present decade, the Indian Pharmaceutical sector is also struggling and searching for growth in the pharmaceutical export, then the country’s potential scientists, engineers, and committed workers took the initial step and produce some special type of drug that is good for health and contains low manufacturing cost, and that’s how they become the main reason for the growth of the Indian Pharmaceutical sector.

According to the India Import Export Data, the overall estimated value that the Indian Pharmaceutical sector generated is $41 Billion US Dollars in the year 2021. We are expecting its growth to $65 Billion US Dollars by 2024.  

Indian Government is containing a strong network in terms of the Pharmaceutical sector with more than 10,500 manufacturing facilities and more than 3000 pharma companies present in the Indian Market. 

As per the latest data from the medical sector, more than 80% of antiretroviral drugs are supplied by India which are used to fight against AIDS worldwide. 

The pharmaceutical sector is the backbone of the global healthcare system. Even the most distant areas of the nation now have access to healthcare because of the development of the Indian pharmaceutical industry.

What are India’s top five pharmaceutical companies?

It’s totally clear that India is leading the position of largest pharmaceutical generic exporter in the world just because of the leading pharmaceutical companies working in India.  

We have prepared a list of the top five pharmaceutical companies present in the Indian market. So without wasting more time let’s get started – 

  • Sun Pharmaceutical Industries LTD –  is an international pharmaceutical company and leading the Indian Market in terms of Pharmaceutical manufacturing & selling. The overall sales that the company generated is around Rs 30K Crore. Recently, they got an award of the entrepreneur of the year from all Indian management associations (AIMS). The main two features of “Sun Pharma” is they own APIs or they have world-class research and development facilities. 
  • Dr. Reddy’s Laboratories LTD – is also an international pharmaceutical company containing 190 drugs and 60+ APIs from drug manufacturers. The company’s overall revenue is around Rs 17K Crore. There are 22 thousand employees are working in the firm.
  • Divi’s Laboratories – the company located in Hyderabad contains more than 15 thousand employees working in it. They are having 3 research & development and 3 manufacturing units. The company is selling its products throughout the world and the most preferable countries that bought its products are the USA, Europe, Japan, South Africa, Philippines, and Australia. 
  • Cipla – the company is also leading the pharmaceutical market. They are located in Mumbai. they have generated overall revenue of around $2.5 Billion US Dollars in the year 2020. More than 22 thousand employees are working in this company. The feature benefit is that they have produced more than 2000 formulations till now, and the company covers neurology, nephrology,  and diabetogenic.  
  • Aurobindo Pharmaceuticals – the company is founded by PV ram prasad Reddy, the company is located in Hyderabad. the company generated overall revenue of more than 13 thousand crores rupees in the year 2020. There are more than 19 thousand employees working in the organization. 

These are the top five Indian pharmaceutical companies working in the Indian Market. If you want to know more then click here India’s top pharmaceutical export companies

What is the most exported drug from India?

As we all know that India is the largest generic exporter in the world. They are exporting varieties of drugs throughout the world and growing the Indian export sector. 

According to the latest Import Export data, Indian Pharmaceutical export is grown by 7.59% in recent years.   

  • Ayush and Herbal Products
  • Drug formulations & Biologicals
  • Surgicals
  • Bulk Drugs & Drug intermediates

If you want to know more about the Pharmaceutical products that are exported from India then click here – India Top pharmaceutical products 

How to Export pharmaceutical goods from India – (A step-by-step procedure)

If your pharmaceutical firm is registered in India, then exporting generic medications is a very simple task for you.

To export medicines from India without any problem, you have to simply follow these procedures.

  • Applying for an IEC (Import Export Code) number is the initial step in exporting pharmaceutical goods from India.
  • You have to build connections with Active exporters of other nations that are keen on importing Indian medication.
  • In the nation from which you will be exporting your goods, register it.
  • Obtain DCGI’s permission for the export of medicines from India (Drug Controller General of India).
  • Choose a shipping method (you must make a decision before exporting medicines from India) or a merchant, exporter, and provider of medicines.
  • Receive the purchase order from the business importing the drugs from India and provide a proforma invoice with product details including the kind of packaging, price, and shipping details, among other things.
  • Create a business invoice to be paid using a purchase order or letter of credit.
  • Sign a deal with a freight forwarding business to have the material delivered to the correct nation.
  • You must go through customs clearance after completing all of the documentation. You have the option of doing this yourself or with the assistance of an agent to save time.
  • Once they have gotten permission, the pharmaceutical items will be shipped to the importing nation.
  • Additionally, customs clearance is necessary for the importing nation.

These are the steps that you must have to follow for exporting Indian Pharmaceutical goods if you want to know how to apply for IEC Code then visit our previous IEC blog – Everything You Need to Know About IEC Codes

Conclusion – in this blog, we gave you enough information about the Indian Pharmaceutical exports Report. Additionally, we give you What are India’s top five pharmaceutical companies, How to Export pharmaceutical goods from India – (A step-by-step procedure), and  What is the most exported drug from India. 

We assume that the information that we have provided is enough and helpful for your import-export business in the Indian Pharmaceutical market. 

If you have any doubts then contact us via mail at Info@eximtradedata.com or call us at tel:91-9625812393

Collect the most prominent import export data through the world’s best global import export data provider. 

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