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Indian healthcare sector likely to record threefold rise by 2020: Minister of Chemicals & Fertilizers
Sep-18-2019

Being optimistic about Indian healthcare sector, The Minister of Chemicals & Fertilizers Sadananda Gowda has said that the sector is expected to record a threefold rise, at a CAGR of 22 per cent during 2016-2022 to reach $372 billion in 2022 from $110 billion in 2016.

The Minister is also expecting the industry to employ 40 million by 2020. He further underlined that the country is one of the largest exporters of pharmaceuticals and is the only country with largest number of USFDA compliant Pharma plants (more than 262 including APIs) outside of USA.

Gowda also listed the facts like India accounts for 20 per cent of global exports in generics, India’s pharmaceutical exports stood at $17.27 billion in 2017-18 and expected to reach $20 billion by 2020 and in 2018-19 these exports are expected to cross $19 billion.


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