Pharma Exports Hit Rs 1.83 Lakh Crore in 2021-22

India's pharma sector has seen a resurgence in recent years, with exports hitting Rs 1.83 lakh crore in 2021-22. The sector has been growing steadily and is expected to continue doing so in the coming years.

India's pharmaceutical industry is the third-largest in the world in terms of volume and tenth largest in terms of value. Its role in the economy and the GDP of the country is significant. The pharma industry contributes 2% of India's GDP and employs around 4 million people. 

The Indian pharma industry is expected to grow at a CAGR of 37% to reach USD 50 billion by 2025. The country has a large number of FDA-approved generic drug manufacturing facilities and is one of the world's leading suppliers of generic drugs. 

Initiatives By Government To Boost Pharma Sector

The Government of India has played a pivotal role in the development of the country's pharmaceutical industry. It has taken several initiatives to boost the sector, which include: 

●     The launch of the PLI (Production Linked Incentive) scheme, under which Rs 15,000 crores of financial assistance will be provided to the pharma sector. With this scheme, the government aims to make India a global hub for the manufacturing of medicines.

●     In 2020, the government allocated Rs 6,940 crores for eight years to reduce import dependence and envisage world-class infrastructure for the pharmaceutical sector. This will help boost India's bulk drug industry.

●     The PM Gati Shakti National Master Plan has been launched to enhance connectivity and increase the competitiveness of Indian pharma businesses. The focus is on creating economic zones for pharmaceutical clusters. 

With these initiatives, the Indian pharmaceutical industry is expected to grow manifolds in the coming years and emerge as a leading player in the global market. 

Union Budget 2022 — What Does It Hold For The Pharma Sector? 

The budget for the financial year 2021-22 has been announced, and it holds good news for the pharmaceutical sector. The government has extended the deadline for new manufacturing facilities to begin manufacturing or producing bulk drugs to get a concessional 15% tax rate. 

In addition, the government has also emphasized promoting research and development in the sector. 

Jindal Medical Store — Your One-Stop Solution For All Your Medical Needs 

Jindal Medical Store is a leading retailer of all medical and surgical supplies. We have been serving the medical fraternity for over 50 years and have built a reputation for ourselves as a reliable and trustworthy partner. 

Our 237 importers have generated 47M USD revenue, growing at a CAGR of 17% to 130%. We have exported 93M tablets and 57M sachets under 147 brand categories and counting. 

We have a wide range of products that cater to all your medical needs. Our 750+ SKUs under 19 brands and 300 live SKUs are available at all times. We also have an inventory of 1.3M units, worth over $290,000 USD, spread across 3 dispatch centers. 

In terms of our team, we have a strong workforce of 35 full-time members and 23 support staff. Our 117 checkpoints across 13 checklists help us maintain a high level of quality control. We also have 83% on-time delivery rate, which is higher than the industry norm. 

Our presence in 77 countries across 5 continents is testimony to our commitment to serving our clients globally. Our repeat client ratio is an impressive 73+%, and we deliver 55% faster than the industry average. 

If you are looking for a reliable partner for all your medical needs, look no further than Jindal Medical Store!

For More Details Call or WhatsApp: +91 7838514530

visit: www.jindalmedicalstore.in