Pharma exports likely to get a boost on coronavirus vaccine shots

However, he said that many countries, especially the European Union, are likely to step up production and increase their portfolios in an attempt to reduce import reliability.

For the pandemic-hit year, the Indian pharmaceuticals industry is likely to post nearly 20 per cent growth in exports. On the domestic front, too, the market growth is back, albeit in low single digits, after the lows of the lockdown months. 

What's more, the outlook for 2021-22 is robust — both for exports and the local market — riding on the back of vaccines. 

Indian exports may grow at 11-12 per cent inclusive of additional opportunities of the Covid-19 vaccine, said Uday Bhaskar, director-general of Pharmaceuticals Export Promotion Council (Pharmexcil), a ministry of commerce outfit. "As India has large capacities to manufacture