Gujarat pharma SMEs witness 20% growth in exports
In India while big pharma companies are facing hurdles in the export growth because of the issues with the US drug regulator, growth in SME export is no doubt a good sign. With the current conditions, it looks like pharma exports would be able to clock a 10-12 per cent growth over last fiscal. Gujarat had a nearly 22 per cent share in all-India pharma exports in 2012-13.
According to a Business
Standard report, R S Joshi, executive secretary of the Indian Drug
Manufacturers Association (IDMA), Gujarat
State Board, admitted that
the expectation of growth in exports from Gujarat which was around 16
per cent, would manage to grow by about 11 per cent from the state.
"However, SMEs have
outperformed big pharma companies in terms of growth rate. Exports to
regulated markets like the US and the European Union are hit. But, as
SMEs export to semi-regulated markets, their growth has not been
impacted," Joshi explained. Shares of SMEs in overall exports
from Gujarat is around 70-80 percent, he added.
KS Chhabra, Managing
Director of Hindustan Biosynth, a Vadodara-based pharmaceutical firm
said, "Some of the SME units have even managed to clock over 20
per cent growth rate."
The net exports by SMEs
from the state, the share of emerging markets is close to 60 per
cent, which is growing at a 30-35 per cent rate every year, he added,
according to the BS report.