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Indian drug exports to various countries to reach 60 pc in volume in next three years : Somani

Hyderabad, Sep 19 (UNI) Indian drug exports to various countries would reach 60 per cent in volume during the next three years, Dr VG Somani, Drug Controller General of India (DCGI) said here on Thursday.
In his inaugural address at the two-day International Regulators Meet on “ International Regulatory convergence to Promote Accessibility and Affordability of Quality Medicine” being organized by Pharmaceuticals Export Promotion Council of India here, Dr Somani said this target was to increase supply of India drugs to the world and as of now, India drjg supplies was between 42-45 per cent to world by volume.
People wants safer technologies and consume in easy manner, he said and asked the pharma industries to develop such technologies.
Regulators from 24 countries participating in the two-day conference in additional to many Indian regulatory officials and industry representatives, he added.
Earlier in his welcome address, Pharmexcil Director General Uday Bhaskar said in the FY 2019-20, Indian Pharma crossed $ 19.2 billion exports and registered 10.72 per cent growth against previous year.
We have seen growth in almost all categories and drug formulations category achieved the highest growth of 12.13 per cent, he said USA is a major export destination for Indian pharma exports with market share of 30 per cent.
The first quarter in the fiscal year 2019-20 registered a growth in pharma exports was 11 per cent, Mr Bhaskar said, adding that in July alone in this year, Indian exports (generic drugs) registered a cumulative growth at 21.7 per cent against 13 per cent for the period April-July 2019.
India’s generic pharmaceutical exports are expecting to touch $ 21 billion in the fiscal 2019-20, he added.
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