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India Vows to Become Self-reliant in API Production, an Industrial Info Market Brief
Industry Segment: Market Brief | Word Count: 160 Words
Attachment: API India
Although India surpasses China when it comes to pharmaceutica exports, it is still largely dependent on China for its raw materials and active pharmaceutical ingredients (APIs). According to the Pharmaceutical Export Promotion Council of India, the country exported pharma products worth of $19.2 billion in financial year 2018-19, posting a record year-on-year growth of 11%. India's API imports continue to grow, in tandem, exceeding 60% and for some specific APIs.
Notably, India supplies about 20% of global generic medicines in terms of volume, making the country the largest provider of generic medicines in the world. To reduce India's dependence on China for APIs, India's Chemicals and Fertilizers Ministry, along with other ministries, joined with the industry to draw up a road map for boosting domestic API production. Industrial Info is tracking 498 active API projects in India with a total investment value of $4.48 billion. Click here for a list and see map below.
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