January 16, 2024 09:58 pm | Updated 09:58 pm IST - HYDERABADIndia’s pharmaceutical exports increased 9.3% year-on-year to $2,477.43 million in December amid the rising impact of the Red Sea crisis on several commodity exports from the country. For the nine months ended December, pharma exports were 8.2% higher at $20,400.04 million ($18,854.67 million), rekindling hopes of achieving the more than $28 billion target being pursued for the fiscal. It has been a roller coaster ride for pharma exports up to November from an increase of 9.43% in April to 0.47% in July before soaring more than 29% in October and moderating to 7.33%. The impact of situation in Red Sea, which remains the shortest route between Asia and Europe, will be known once supplies gather momentum after the break. Almost two-third of pharma exports are by sea and the rest, mostly high value and emergency supplies, by air.

Source: The Hindu January 17, 2024 01:42 UTC