INDIA SOON TO BE TOP EXPORTER OF MEDICINES TO US

Why in the news?

India’s pharmaceutical industry is poised to become the leading exporter of medicines to the United States, with exports expected to reach $9.08 billion in 2023, up from $7.33 billion in 2022.

INDIA SOON TO BE TOP EXPORTER OF MEDICINES TO US - UPSC

Key Data

  • Market Share: In 2023, India’s market share in the US pharmaceutical sector increased to 13.1%, making it the third-largest supplier of medications to the US, following Ireland and Switzerland. This represents an increase from 10.8% in 2022.
  • US exports: In 2023, India’s medicines exports to the US reached $9.08 billion, up from $7.33 billion the previous year. This includes major antibiotic exports, with India currently the second-largest supplier to the United States.
  • India’s Pharmaceutical Industry: India is the world’s leading provider of generic medications, accounting for more than half of global vaccination demand, 40% of generic demand in the United States, and 25% of total medicine in the United Kingdom.
  • Regulatory Compliance: Indian pharmaceutical businesses are known for adhering to tough US FDA standards, which has boosted their position in the US market.
Related Information

  • Recently, the Union government took sole jurisdiction over the issue of manufacturing licenses for new medications intended for export, shifting this obligation from state governments.
  • The decision was driven by increased global scrutiny of Indian-made pharmaceuticals.

CDSCO

  • Consequently, the Central medicines Standard Control Organization (CDSCO) has been appointed as the exclusive licensing body for medicines in India.
  • Manufacturers must now get a No Objection Certificate (NOC) from the CDSCO’s appropriate zonal office.
  • CDSCO is the Central Drug Authority in charge of carrying out the tasks allocated to the Central Government under the Drugs and Cosmetics Act of 1940.
  • The CDSCO is headed by the Drug Controller General of India (DCGI).