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China accounts for 66% of India's bulk drug imports in FY'17

by December 19, 2017 General

India’s bulk drug from top five countries stood at Rs 18,372.54 crore in 2016-17 with accounting for 66 per cent, was informed today.

In a written reply in Lok Sabha, of State, Chemicals and Fertilisers Mansukh L Mandaviya said the other four major countries from where bulk drugs are Germany, the US, and

India’s import of (API) from stood at Rs 12,254.97 crore in 2016-17, while that from the US was at Rs 820.18 crore.

import from was at Rs 701.85 crore during the year under review, while the same from and was at Rs 485.11 crore and Rs 422.01 crore respectively.

“It may be mentioned that most of the of bulk drugs/(are) being done in the country because of economic considerations,” Mandaviya said.

As is a signatory to the WTO and TRIPs agreement, import restrictions have been removed, he added.

In 2015-16, India’s total bulk drug from the top five countries were at Rs 21,225.97 crore and it was Rs 19,833.19 crore in 2014-15, the added.

Replying to another query, Mandaviya said the Department of Pharmaceuticals has asked medical device associations, and relevant regulatory agencies to help in categorising medical devices.

The purpose is to categorise medical devices so as to have different trade margins for various categories for different segments, considering the vast diversity and the logistics required in delivering them to patients, he said.

“Industry has proposed that the total trade margins for medical devices could be capped to make quality medical devices affordable. Discussions on the issue with industry resulted in the need for categorisation,” Mandaviya said, adding there has been no consensus on the issue.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)