Economic Survey: FDI in pharma sector shot up by 200% in 2020-21

By Sumit Blogs -

The Indian pharmaceutical sector witnessed a 200% increase in foreign direct investment (FDI) in 2020-21, noted the Economic Survey 2021-22.

“FDI in the pharmaceutical sector has seen a sudden spurt in 2020-21 vis a vis the previous year showing a 200% increase,” said the Economic survey tabled in Parliament by finance minister Nirmala Sitharaman.

In 2021-22 (April-September) the FDI inflows continued to be buoyant at ₹4,413 crore, growing at the rate of 53% over the same period in 2020-21, it said.

According to the report, the extraordinary growth of foreign investments in pharma sector is mainly on account of investments to meet Covid related demands for therapeutics and vaccines.

The Indian Pharmaceutical industry ranks third in the world in pharmaceutical production by volume.

During 2020-21, total pharma exports stood at $24.4 billion against the total pharma import of $7.0 billion, thereby generating a rade surplus of $17.5 billion.

India is the largest supplier of generic medicines with a 20 percent share in the global supply. “Price competitiveness and good quality has enabled Indian medicines producers to be dominant players in the world market, thereby making the country the “Pharmacy of the world,” the survey said.

The survey said that although India is a prominent player in formulations, the country is significantly dependent on the import of bulk drugs that are used in the formulation of medicine.

In certain cases, import dependence varies between 80-100%.

Credits – Source – https://ift.tt/Yys1rk8vH

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