Latest news with #NamitJoshi
Mint
14 hours ago
- Business
- Mint
Pharma exports robust at $5bn in April, May: Pharmexcil
New Delhi: India's pharmaceutical exports reached $4.9 billion in April-May of FY26, according to data released by the government's Pharmaceuticals Export Promotion Council of India (Pharmexcil) on Tuesday. This marks a strong 7.38% expansion compared with the same period last year, highlighting the industry's continued upward trajectory and its key role globally. Pharmexcil, a body under the ministry of commerce, attributed the momentum to strategic initiatives focused on sustainable manufacturing, expanded global market presence, and digital innovation aimed at streamlining regulatory processes. It said these efforts are fundamental to India's ambitious goal of achieving a trillion-dollar trade target for its pharma industry. "India's pharmaceutical exports continue to demonstrate a steady year-over-year growth, with drug formulations and biologicals continuing to dominate the export category," stated Namit Joshi, chairman of Pharmexcil. "We attribute this growth to rising global demand, streamlined regulatory approvals, technological innovations, strategic partnerships, and economic stability,' Joshi said. Formulations and biologicals remain the backbone of India's pharma exports, accounting for 75.74% of the total. Bulk drugs and drug intermediates also saw healthy growth, expanding by 4.40% in May 2025-26. Notably, there was a significant 13.64% increase in vaccine exports, reaching $190.13 million, underscoring India's contribution to global health. Other key segments were surgical items (up 8.58%) and Ayush & herbals products (up 7.36%). The North American Free Trade Agreement (NAFTA) region, Europe, Africa, and Latin America make up 76% of India's pharmaceutical export destinations. The US remains the top destination, with exports valued at $1.7 billion in May, representing 34.5% of total pharma exports and a 1.5% expansion. While Europe and Africa saw moderate growth, the Asean region emerged as a newly contracted area, showing promising diversification, the statement said. Joshi said the India-UK Free Trade Agreement (FTA) discussions showed it will significantly enhance supply chains, improve access to affordable medicines, and attract foreign direct investment, particularly in contract development and manufacturing (CDMO) and joint research.
Time of India
2 days ago
- Business
- Time of India
After a robust march, pharma exports slow
New Delhi: India's pharmaceuticals exports grew only 1.5% year-on-year in April and May after an impressive 31.2% jump in March when companies expedited shipments to meet year-end targets and also to avoid potential US tariffs, a top official said. In 2024-25, shipments to the US rose 20.4% to around $10.5 billion from approximately $ 8.7 billion in FY24 despite ongoing challenges related to pricing pressures, regulatory scrutiny, and geopolitical uncertainties, Namit Joshi, chairman of Pharmaceuticals Export Promotion Council ( Pharmexcil ), told ET. The industry remains confident of keeping the momentum and more than double overall pharma exports to $120-130 billion by 2030 from $50-55 billion now, he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Don't Overpay For A Will Or Executor Fees - Do This Instead Consumer Advice Read More Undo Pharmexcil is an authorised exports promotion agency under the commerce and industry ministry. Joshi said the surge in exports in March "was primarily driven by companies expediting shipments to meet financial year-end targets and consolidate annual performance metrics-a recurring trend observed every year." Live Events The announcement of potential tariffs on Indian pharmaceutical products by US President Donald Trump also contributed to the momentum, he said. "Fearing possible future restrictions, several Indian drug manufacturers advanced their shipments to the US, which would have otherwise taken place in April," Joshi said. "This pre-emptive move helped avoid potential tariff impacts but also led to a dip in April exports." Pharma exports in March jumped a staggering 48.8% from February. "While detailed country-wise figures for this period are yet to be released, the US-typically accounting for over 30% of India's total pharma exports-is presumed to have received a significant portion of this March surge," Joshi said. STRATEGIC REPOSITIONING Indian pharma exporters are responding to the dual pressures of regulatory tightening and evolving market demand by strengthening compliance, prioritising complex generics and value-added products, and pursuing strategic investments that enhance their long-term competitiveness in the US, Joshi said. "Heightened regulatory scrutiny, particularly in the form of frequent USFDA inspections and warning letters, has prompted Indian manufacturers to enhance compliance standards and invest in quality upgrades across manufacturing sites," he said. "Companies are increasingly adopting advanced technologies such as automation, data integrity systems, and digitised quality control frameworks to ensure regulatory alignment."
