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Importantly, imports from China exhibited a more significant decline of 9.45% during this period, reflecting the country's reduced contribution to the Indian pharmaceutical supply chain. The value of imports from China dropped to $2.15 billion, down from $2.38 billion in the corresponding nine months of the previous fiscal year.
For the quarter spanning October to December 2023, bulk drugs and intermediates imports reported a substantial 33.3% decline at $770.96 million, in contrast to the $1.16 billion recorded in the same period of the preceding year. Quantity-wise, there was a corresponding drop of around 32%, with imports totalling 69,170 metric tonnes compared to 1.01 lakh metric tonnes during the same quarter in the previous fiscal year.
Imports from China during the last quarter of 2023 declined by approximately 30.4% to $550.32 million, down from $790.35 million in the October to December 2022 period. Quantity-wise, imports decreased from 77,915 metric tonnes to 51,126 metric tonnes during the comparable period.
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For the quarter spanning October to December 2023, bulk drugs and intermediates imports reported a substantial 33.3% decline at $770.96 million, in contrast to the $1.16 billion recorded in the same period of the preceding year. Quantity-wise, there was a corresponding drop of around 32%, with imports totalling 69,170 metric tonnes compared to 1.01 lakh metric tonnes during the same quarter in the previous fiscal year.
Imports from China during the last quarter of 2023 declined by approximately 30.4% to $550.32 million, down from $790.35 million in the October to December 2022 period. Quantity-wise, imports decreased from 77,915 metric tonnes to 51,126 metric tonnes during the comparable period.
Bulk Drugs and Drug Intermediates Imports Set to Drop by 12% in FY24
Imports of bulk drugs and drug intermediates into India have experienced a notable 12% decline in the first three quarters of the fiscal year 2023-24, despite
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Pharma sector imports reduced thanks to PLI scheme: Govt - BusinessToday
The review highlighted structural reforms and digital infrastructure development as key drivers of economic growth, citing examples such as the Aarogya Setu and CoWIN apps that aided pandemic response
