As on March, 2015, India Brand Equity Foundation quotes India as one of the fastest-growing pharmaceutical markets in the world and that India has established itself as a global manufacturing and research hub. A large raw material base and the availability of a skilled workforce give the industry a definite competitive advantage.
- The Indian pharmaceutical industry was estimated to be worth US$ 12 billion in 2013 and is expected to touch US$ 100 billion by 2025
- Globally, India ranks third in terms of volume of production and fourteenth largest by value and is also expected to move up to eleventh place by 2017
- Indian pharma sales stood at US$ 22.6 billion in 2012 and is expected to register US$ 27 billion by 2016 growing at a rate of 14.4 percent
The pharmaceutical exports market in India is growing at a very rapid rate.
- India exports to more than 200 countries; its share of exports is expected to grow manifold
- Pharmaceutical exports from India grew at a rate of 1.2 per cent to reach US$ 14.84 billion in 2013-14
Looking at this the world is now considering India as the profitable venue to manufacture its pharmaceutical products. Pharma export market in India is very potential for the buyers for procuring their required pharmaceutical formulations in all the available dosage forms.
Milan has achieved remarkable success in exporting pharmaceutical products to over 43 countries spread in all the continents of the world. We are looking forward to make such tie-ups and find new customers to whom we can offer our spare capacity and export pharmaceutical formulations to the markets where we are still not present.