The export target for 2000-01 has been fixed at Rs 17,150 crore against the actual achievement of Rs 13,926 crore in the preceding year. And going by the performance trends so far, it is anticipated that the target would be achieved, says an official release. It is significant that exports of almost all products in the sector (barring castor oil) are showing an appreciable growth during the current year, ie drugs and pharmaceuticals (25.5 per cent), dyes and intermediates (36.2 per cent), organic, inorganic and agro chemicals (41 per cent), and cosmetics, toiletries and incense sticks (32.5 per cent).

In a short span of time, the industry has recorded a phenomenal growth, producing bulk medicines worth Rs 3,148 crore and formulations worth Rs 13,878 crore during 1998-99, compared to hardly Rs 10 crore during 1947.

The industry manufactures bulk drugs belonging to several major therapeutic groups requiring various manufacturing processes, and it has developed excellent facilities for production of all dosage forms like tablets, capsules, liquids, orals and injectibles. This achievement is strengthened by total assurance about the quality of the products. Over the past, policy inputs have been directed towards promoting the growth of the industry and in helping it to achieve a broad base in terms of the range of products, and technologies needed to produce them from as basic a stage as possible.

The result has been encouraging. As of date, there are about 250 large units and around 8000 small-scale units in operation, which form the core of the industry (including five Central public sector units). The industry is now in a position to meet 70 per cent of its requirement of bulk medicines and almost all the demands for formulations.

base for the global pharmaceutical market, consisting of the large pool of low-cost skilled professionals and also because the cost of setting up a plant in India is 40 per cent cheaper compared to that in developed countries. The cost of bulk drug production in India is 60 per cent less than that in developed countries. Besides, raw materials for the industry are also cheaper, making it highly cost competitive in the international drug industry.