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Time of India
18-05-2025
- Business
- Time of India
India's pharma industry grows 7.8% in April; government says, 'success of smart schemes'
AI-generated image NEW DELHI: India's pharmaceutical industry continues its rapid ascent on the global stage, driven by affordability, innovation, and inclusivity. Thesector recorded a 7.8 per cent year-on-year growth in April 2025, according to India Ratings, part of the Fitch Group, as quoted by Press Information Bureau (PIB) on Sunday. This growth reflects continued strong domestic demand and the introduction of new products. The country ranks third in the world in pharmaceutical production by volume and 14th by value. It is the largest global supplier of generic medicines, meeting 20 per cent of worldwide demand. India also plays a vital role in vaccine production, supplying 55 to 60 per cent of Unicef's global vaccine needs. In 2023–24, the pharmaceutical sector recorded a turnover of Rs 4,17,345 crore, sustaining an annual growth rate exceeding 10 per cent over the last five years. The growth of this sector has led to greater access to affordable medicines, improved healthcare services and the creation of employment opportunities across the country, from urban manufacturing hubs to rural research facilities, according to the government that cited a series of policy initiatives introduced in recent years as a factor for these advances."The Pradhan Mantri Bhartiya Janaushadhi Pariyojana ( PMBJP ) runs 15,479 Jan Aushadhi Kendras, offering generic medicines at prices up to 80% lower than branded ones," it said adding that these stores provide quality generic medicines at prices up to 80 per cent lower than branded alternatives. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Undo The government further claimed that the Production Linked Incentive (PLI) Scheme for Pharmaceuticals, with an outlay of Rs 15,000 crore, is supporting 55 projects focused on producing high-value drugs for conditions such as cancer and diabetes. Another PLI scheme worth Rs 6,940 crore targets the domestic production of key drug ingredients, including Penicillin G, in order to reduce reliance on imports. A separate allocation of Rs 3,420 crore under the PLI scheme for medical devices is driving the local manufacture of advanced equipment such as MRI machines and cardiac implants, was further stated in the report. Further boasting about the pharma sector growth claim, it added, "Then there's the Promotion of Bulk Drug Parks scheme with Rs 3,000 crore building mega hubs in Gujarat, Himachal Pradesh and Andhra Pradesh to make medicines cheaper and faster. The Strengthening of Pharmaceuticals Industry (SPI) Scheme with Rs 500 crore, funds research and upgrades labs, helping Indian companies compete globally. These efforts mean medicines are made in India, for India and for the world keeping costs low and quality high. " India's pharmaceutical products continue to play a crucial role in international healthcare. The country supplies 99 per cent of the World Health Organization's demand for DPT (Diphtheria, Whooping cough and Tetanus) vaccines, 52 per cent for the BCG vaccine used against tuberculosis, and 45 per cent for measles vaccines. Foreign investors have also shown strong confidence in the Indian pharmaceutical sector. In 2023–24, foreign direct investment in the sector reached Rs 12,822 crore. The country allows 100 per cent foreign investment in medical devices and new pharmaceutical projects, making it an increasingly attractive destination for international enterprises. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hans India
18-05-2025
- Health
- Hans India
India's pharma sector ranked 3rd in world, leads in affordable drugs
India's pharmaceutical industry, which has emerged as the largest supplier of affordable generic medicines, is poised to grow at 7.8 per cent year-on-year in April 2025 driven by strong demand and new products, according to experts at India Ratings. The country's pharma sector is now ranked 3rd in volume and 14th in value globally and contributes as much as 20 per cent of the world's supply of medicines. The turnover of the Indian pharma industry touched Rs 4,17,345 crore in 2023-24 growing steadily at over 10 per cent annually for the past five years. "For the common man, this means more medicines at lower prices, better healthcare and jobs in factories and labs across the country. From small towns to big cities, India's pharma growth is creating opportunities and saving lives," a government official said. India has also emerged as a key supplier of vaccines. The country's pharma sector supplies 55-60 per cent of UNICEF's vaccines, meeting 99 per cent of WHO's DPT (Diphtheria, Whooping cough and Tetanus) vaccine demand, 52 per cent for BCG (Bacillus Calmette-Guérin is a vaccine primarily used against TB), and 45 per cent for measles. From Africa to America, Indian vaccines save millions. At home, these schemes create jobs for young Indians, from factory workers to scientists. Foreign investors are pouring in with Rs 12,822 crore in 2023-24 alone, because they see India's potential. The government welcomes 100 per cent foreign investment in medical devices and greenfield pharma projects, making India a hotspot for global companies. The government's schemes have played a key role in promoting the pharma sector. The Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) runs 15,479 Jan Aushadhi Kendras, offering generic medicines at prices up to 80 per cent lower than branded ones. A heart medicine that once cost Rs 500 might now cost Rs 100. The Production Linked Incentive (PLI) Scheme for Pharmaceuticals with Rs 15,000 crore, supports 55 projects to make high-end drugs like cancer and diabetes medicines right here in India. Another PLI scheme with Rs 6,940 crore focuses on raw materials like Penicillin G, reducing the country's need for imports. The PLI for Medical Devices, backed by Rs 3,420 crore, is boosting production of tools like MRI machines and heart implants, the official added. The Promotion of Bulk Drug Parks scheme with Rs 3,000 crore building mega hubs in Gujarat, Himachal Pradesh, and Andhra Pradesh to make medicines cheaper and faster. The Strengthening of Pharmaceuticals Industry (SPI) Scheme with Rs 500 crore, funds research and upgrades labs, helping Indian companies compete globally. These efforts mean medicines are made in India, for India and for the world keeping costs low and quality high.
Mint
14-05-2025
- Business
- Mint
Wholesale inflation eases to 13-month low of 0.85% in April as food, fuel prices soften
Wholesale price index (WPI)-based inflation eased to a 13-month low of 0.85% in April as food prices and energy prices softened, data from the commerce ministry showed on Wednesday. The inflation gauge, which is based on factory gate prices, was at 2.05% in March and 1.19% last April. The latest WPI inflation figure is the lowest since March 2024, when it came in at 0.53%, indicating cost pressures are easing at the producer level. Retail inflation eased in April to its slowest pace in over six years on the back of lower food prices. Data showed primary articles, which comprise food items such as cereals, vegetables, eggs, meat and fish, as well as non-food articles such as crude petroleum and natural gas saw prices decline year-on year, meaning inflation in this category slipped to negative territory. Pulses saw 5.57% deflation year-on-year, vegetables 18.26%, and potato 24.3%. WPI food index inflation eased to 2.55% in April from 4.66% in March, the data showed. This is an 18-month low, India Ratings and Research associate director Paras Jasrai wrote in an analysis. 'Easing food inflation would help in bringing relief to households and the consumption demand as we begin the new fiscal,' he said. Crude petroleum and natural gas saw 15.5% deflation in April. Since last November, this segment has seen prices ease as global economic growth has faced geopolitical and trade-related uncertainty. The Indian basket of crude oil was at an average of $67.73 a barrel in April, down from $89.44 a barrel last April and $72.47 in March, according to data from the petroleum ministry's petroleum planning and analysis cell. Experts expect a favourable monsoon and prospects of higher production to keep food inflation in check. On the other hand, global commodity prices are likely to remain contained despite the US's softening stance on tariffs, amid China's continued economic challenges. 'Global growth prospects too appear to be in jeopardy amidst uncertainty over US tariffs. The above backdrop suggests that WPI inflation is likely to remain benign in FY26 as well,' according to an analysis shared by Madan Sabnavis, chief economist at Bank of Baroda. Manufactured products, which include processed food items, vegetable oils and animal fats, basic metals, and textiles and apparel saw moderate 2.62% year-on-year inflation in April. This revealed underlying cost pressures in some industrial sectors. 'Muted commodity prices along with a favourable base effect for food segment would keep the wholesale inflation around 0.5% in the near term,' said the analysis shared by India Ratings. The government expects nominal GDP to expand 10.1% in the current financial year. On Tuesday, official data showed annual inflation based on the consumer price index (CPI) softened to 3.16% in April, its lowest level since July 2019.
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Business Standard
07-05-2025
- Business
- Business Standard
India's pharma market grows 7.8% in April, led by chronic therapies
The Indian pharmaceutical market (IPM) grew 7.8 per cent in April this year, with almost all major therapies showing positive value growth, according to market research firm Pharmarack. India Ratings and Research said the continued revenue growth was driven by companies' price hikes, with volume growing 1.3 per cent year-on-year (Y-o-Y). 'India Ratings expects IPM to grow 7-8% Y-o-Y during the financial year 2025-26 (FY26) with sustained growth momentum in the chronic therapies, led by price increases and product launches', said Nishith Sanghvi, director, corporate ratings, India Ratings. Therapies such as cardiac and gastrointestinal, accounting for nearly 25 per cent of the overall domestic market, recorded value growth of 11 per cent and 7.3 per cent, respectively. Several super groups, such as urology and antineoplastics, which made up 2 per cent each of the IPM's sales value for the month, also recorded double-digit growth. Sheetal Sapale, vice-president (commercial) at Pharmarack, said that the price growth and new introductions drove the growth in April, with a negligible volume rise. 'The IPM also reported a positive 1.3 per cent unit growth during the month, with the cardiac and antidiabetic segments performing better than the overall market figure,' she added. Analysis suggests that the antidiabetic segment saw a 4.3 per cent rise in volume sales in April due to a key drug, empagliflozin, going off-patent, as companies launched several plain and combination medications in the segment. Growth in the moving annual turnover (MAT) for IPM between April 2024 and March 2025 stood at 8.3 per cent, leading to a total turnover of over ₹2.27 trillion, while volumes in the domestic market grew by 1.3 per cent. The MAT of leading therapy areas such as cardiac, gastrointestinal, and anti-infectives, which constitute around 38 per cent of the pharmaceutical market, showed robust volume growth at 10.6 per cent, 10.1 per cent, and 6.5 per cent, respectively. While top players registered modest monthly value growth in the domestic market during the month, players such as P&G (20.1 per cent), Bayer (15.9 per cent), La Renon (14.6 per cent), Torrent (14.1 per cent), and Sun Pharma (13.7 per cent) posted significant monthly value growth.
Indian Express
30-04-2025
- Business
- Indian Express
At 6.2%, Delhi records slowest economic growth since 2021-22
Delhi's economic growth slowed down in financial year (FY) 2024-25, with real Gross Domestic Product (GDP) growing by 6.2%, as compared to 9.16% in the previous year, the government's most recent estimates showed. This was the slowest growth recorded by the city since FY 2021-22. The data is part of the Estimates of State Domestic Product 2024-25 released by the Directorate of Economics and Statistics recently. This data is significant since the state Economic Survey, which provides insights into the Capital's financial health and is presented before the Budget, was not released this year. The GDP, the total monetary value of all goods and services produced over a year, serves as a key indicator of the region's economic performance and growth. Advanced estimates are released before the end of a financial year. It is the government's forecast of how the economy will perform based on data gathered up to that period. 'Post-pandemic years saw higher growth because of the base effect… there was very low growth during the Covid-19 pandemic. Now that the base effect is waning, we are seeing growth moderating. Due to inflation inching very high, people are also spending less on discretionary items,' said Paras Jasrai, Associate Director of India Ratings. Delhi 's slowdown is in line with the slowdown India witnessed in the same period — India's growth rate also decelerated from 9.2% to 6.5% in a year. The size of Delhi's economy grew to Rs 7.11 lakh crore last year from Rs 6.69 lakh crore in the previous year. Delhi's per capita income is Rs 4.93 lakh, which grew at 7.32% last year, much slower than the 10.11% it grew at the year before that. In 2011-12, Delhi's per capita income was almost thrice the national average. However, over time, this gap has narrowed with the national average growing at a faster pace. Delhi's per capita income is now around two-and-a-half times higher than India's national average of Rs 2.05 lakh. The deceleration of the growth is primarily driven by the secondary and tertiary sector, the report showed. The tertiary sector, which includes services such as transport, banking, hospitality, and tourism, among others, and contributes close to 85% of Delhi's economy, grew only at 6.5%, as compared to 8.8% the year before that. This sector's growth slowed down the previous year as well, from a high of 10.27% in 2022-23. Within the tertiary sector – transport, storage and communications, and services incidental to transport – have fared particularly badly last year, with their growth rates halving. Growth rate of real estate, ownership of dwellings and professional services, which contributes roughly 30% to Delhi's economy alone, has fallen from 13.3% to 6.2% in the past three financial years. 'After the pandemic, we saw many people buying houses as there was pent up demand. Now, we are seeing overall house sales growth moderating,' Jasrai said. The secondary sector (primarily manufacturing and construction), which contributes roughly 13% to the economy, also witnessed a slowdown from 9.68% in FY 2023-24 to 5.32% in FY 2024-25. Electricity, gas, water supply and other utility services were the segment hit the hardest in the secondary sector, the report showed.
