India imports various bulk drugs/active pharmaceutical ingredients (APIs) for producing medicines. About two-thirds of the total imports of bulk drugs and drug intermediates are from China. As calls for a boycott on Chinese goods and materials gains momentum, this statistic bears significance.
The Minister of Chemicals and Fertilizers told the Lok Sabha in March that the Indian pharmaceutical industry is the third largest in the world by volume and 14th largest in terms of value.
According to the Ministry of Commerce and Industry, the Indian pharma industry has been growing consistently over the last few years. Pharma exports in FY19 were $19.13 billion, with a growth of 10.72 per cent over the previous year. During April 2019 - January 2020, the exports stood at $17.32 billion, registering a growth of 11.53 per cent over the corresponding period of the previous year.
India also imported bulk drugs and drug intermediates worth $3,560.35 in FY19, of which 67.56 per cent, or $2,405.42, came from China, according to the Chemicals Ministry. The government told the Rajya Sabha on March 13, “The imports from China are mainly due to economic considerations.”
Drug security
The Department of Pharmaceuticals (DoP) has constituted a committee under the chairmanship of Eshwara Reddy, Joint Drugs Controller, Central Drugs Standard Control Organisation (CDSCO), to address the issue of drug security in the country in the context of the Covid-19 outbreak in China.
Based on the recommendations of the committee, the DoP has issued instructions to the National Pharmaceutical Pricing Authority (NPPA), Drugs Controller General of India (DCGI) and State governments to ensure adequate supply of APIs and formulations at affordable prices in the market and to prevent black-marketing, illegal hoarding and creating artificial shortages in the country.
Also, the DoP has written to the DGFT, asking it to restrict exports of 13 APIs and formulations. The NPPA has also written to the chief secretaries of States, requesting them to closely monitor the production and availability of APIs and formulations to prevent black-marketing and hoarding.
A letter from the Editor
Dear Readers,
The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.
Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.
In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.
We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.
But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.
I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.
A little help from you can make a huge difference to the cause of quality journalism!
Support Quality Journalism