Due to Corona, the business of Indian medicines has increased the most. There has been an increase in the demand for medicines here in foreign countries. It increased the most in March.
Amidst the Corona crisis, the demand for medicines has increased. In such a situation, the demand for Indian medicines has also increased. This is the reason that the export of drugs from the country has increased. According to Uday Bhaskar, director general of the Pharmaceutical Export Promotion Council of India, Pharmaxil, there was a sharp jump in exports in March 2021. About $ 2.3 billion was traded during this period.
The exports of March were the highest during the financial year as compared to any month. If compared to March of a year ago, it increased by 48.5 percent. Exports in March 2020 were $ 1.54 billion. It is said that in the year 2020, the global pharmaceutical market had registered a decline of one to two percent, but this year the demand for medicines from India again saw a boom.
Due to the quality of the medicines of India and the practicality of their prices, their demand is constantly increasing. Indian medicines are also proving effective in fighting the corona virus. In such a situation, there seems to be a good increase in vaccine exports from India. Likewise, the productivity incentive scheme of the Government of India will reduce dependence on imports in the pharmaceutical sector and strengthen the export base.
North America bought more medicines
The demand for drugs from India was highest in North America. It was the largest market in terms of exports. The share of this market in exports during this year was 34 percent. After that the demand for Indian medicines in South Africa was very high. 28 percent of medicines were sent there and exports to the European market grew at a rate of 11 percent.
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