Pharma Exports Could Help India Cut Trade Deficit with China, an Industrial Info Market Brief

India, the world's largest provider of generic drugs, sees exports of pharmaceutical products as a way to reduce its yawning trade deficit with China. For years, India has been pressing China to open its pharmaceutical market, which is facing pressure from the public due to high prices for generic and cancer drugs.

According to data from India's Commerce Ministry, the country has reduced its trade deficit with China by $10 billion to $53 billion in 2018-2019. India's pharma sector could play a major role in further reducing the deficit by augmenting exports to the central Asian market. Industrial Info has records on 831 pharmaceutical and biotech plants in India, with over 3,500 functional management contacts.