Exports of drugs and pharmaceuticals from India during the month of January, 2025 has reported a growth of 21.46 per cent, the highest monthly growth of exports in the sector during the current fiscal year. Imports registered a 16.13 per cent growth compared to the same month last year.
According to data from the ministry of commerce and industry, exports of drugs and pharmaceuticals during the month of January stood at $2.59 billion during the month, as compared to $2.13 billion in the corresponding month, last year.
This is the highest growth in terms of percentage during the current fiscal, followed by 10.45 per cent growth reported in May and 10 per cent registered in June, this year. It may also be noted that the growth was low at 0.63 per cent in the preceding month of December and 1.12 per cent in November, 2024.
For the 10 months of the current fiscal year, from April, 2024 to January, 2025, exports in the sector reported a 7.84 per cent growth at $24.3 billion as compared to $22.53 billion in the same period of previous fiscal year.
In rupee terms, the growth during the month of January was 26.05 per cent at Rs. 22,348.21 crore as compared to Rs. 17,729.02 crore during the same month last year, owing to a strengthening US Dollar. For the 10 months of the fiscal year, the growth is 9.63 per cent at Rs. 2,04,460.92 crore as against Rs. 1,86,496.17 crore registered in the same period a year ago.
Imports of medicinal and pharmaceutical products, on the other hand, has registered a 16.13 per cent growth in US Dollar terms to $790.34 million in January, 2025, as against $680.59 million during the same month last year.
For the 10 months ended January, 2025, the imports grew 8.45 per cent, at $7.48 billion, compared to $6.90 billion in the corresponding period a year ago.
In rupee terms, the imports registered a 20.52 per cent growth to Rs. 6,817.95 crore during the month compared to Rs. 5,657,12 crore in the same month last year. For the first 10 months of the current fiscal, the imports in rupee terms grew 10.27 per cent to Rs. 62,988.90 crore as against Rs. 57,121.14 crore during the same period of last year.
The Economic Survey for 2024-25, released at the end of January, this year, has mentioned drugs and pharmaceuticals as one of the sectors that reported growth in exports. It has also mentioned the sector, along with automobiles and electronics, as growth drivers during the fiscal year.
As reported earlier, exports of drugs and pharmaceuticals during the month of December, 2024 reported a meagre 0.63 per cent growth to $2.49 billion compared to $2.47 billion reported in the same period of previous year.
Exports during the month of November, 2024, stood at $2.16 billion, as compared to $2.14 billion registered in the same month of last year, while the growth was 8.21 per cent in the month of October, 7.22 per cent in September, 4.67 per cent in August, 8.36 per cent in July, 10 per cent in June, 10.45 per cent in May and 7.36 per cent in April, 2024.
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