For the financial year 2020-21, imports of active pharmaceutical ingredients stood at Rs 28,529 crore while exports were at Rs 32,856 crore, the parliament was informed on Tuesday.
The size of the API and Intermediates market in India is estimated to be Rs 96,000 crore in FY 2019-20, Minister for Chemicals and Fertilisers Mansukh Mandaviya said in reply to a question in the Lok Sabha.
As per data maintained by Directorate General of Commercial Intelligence and Statistics (DGCIS), the quantity of API imports were at Rs 3,90,476 MT and exports were at 3,24,331 MT for FY 2020-21, he added.
The value of imports for the fiscal year in consideration stood at Rs 28,529 crore, while exports stood at Rs 32,856 crore, the minister said.
The Department of Pharmaceuticals is implementing three schemes for promoting domestic manufacturing of APIs to ensure their sustainable domestic supply and make India Atma Nirbhar, he added.
The schemes are -- Production Linked Incentive (PLI) Scheme for promotion of domestic manufacturing of critical Key Starting Materials / Drug Intermediates and Active Pharmaceutical Ingredients in India, Scheme for Promotion of Bulk Drug Parks, and Production Linked Incentive Scheme for Pharmaceuticals, Mandaviya said.
Source:moneycontrol.com