Branded generics dominate the pharmaceuticals market, constituting nearly 80 per cent of the market share. India has also maintained its lead over China in pharmaceutical exports with a year-on-year growth of 11.44 per cent to US$ 12.91 billion in FY 16.
In addition, Indian pharmaceutical exports are poised to grow between 8-10 per cent in FY 2016-17.
Imports of pharmaceutical products rose marginally by 0.80 per cent year-on-year to US$ 1,641.15 million.
Overall drug approvals given by the US Food and Drug Administration (USFDA) to Indian companies have nearly doubled to 201 in FY 2015-16 from 109 in FY 2014-15.The country accounts for around 30 per cent (by volume) and about 10 per cent (value) in the US$ 70-80 billion US generics market.