| Date: |
16-06-2011 |
| Subject: |
India's Pharma Sector May Grow 12-14% In FY12 |
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India's pharmaceutical sector is likely to witness 12 -14% growth rate in the present financial year 2011-12, said the Indian Drug Manufacturers' Association (IDMA).
In the last fiscal year 2010-11, the pharmaceutical segment has risen to Rs 100,000 crores. The domestic market has surged to Rs 55, 000 cores and the export market also rose to Rs 45,000 crore.
The Indian Drug Manufacturers' Association (IDMA) feels that Indian pharmaceuticals have been infusing funds in their research and development (R&D) activities. Reports suggest that the Indian pharmaceutical segment spends nearly 5% in R&D activities. There are also some companies that have been spending over 10% in the research and development (R&D) activities.
IDMA has further said that Centre has been giving full support and there are schemes by the Department of Science and Technology, and the Department of Pharmaceuticals, which have been beneficial for the pharma segment.
Source : news.indiamart.com
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