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Date: 26/06/2024

India’s bulk drugs import soars by 13 pc in April-May
 
Import of bulk drugs in the first two months of 2024-25 grew by 13.06 per cent because prices of active pharmaceutical ingredients are low now. Indian pharma players are stocking up on active pharmaceutical ingredients (APIs) while prices stay low. Data from the Pharmaceutical Exports Promotion Council (Pharmexcil) shows that in April and May India imported bulk drugs worth $1.44 billion, up from $1.27 billion in the same months last year. In May alone, India imported bulk drugs and intermediates worth $763.43 million, up 8.67 per cent. According to Mr Uday Bhaskar, Director General, Pharmexcil, the benefits of the PLI scheme take time to kick in, but it is a move in the right direction. Not just for APIs but Indian companies depend on China for key starting materials, chemicals, solvents, etc. Therefore, something or the other gets imported, said a report.



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