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Domestic demand to drive pharma SMEs' growth in FY22: Crisil SME Tracker

March-May 2021 was a particularly good period for Indian formulators due to exceptional demand for drugs amid the second wave of Covid-19 infections.

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2 min read Last Updated : Jan 27 2022 | 2:13 AM IST

Small and medium enterprises (SMEs), which account for 30-40 per cent of the Indian pharmaceutical industry’s revenue, are expected to log 8-10 per cent growth in the current fiscal year (FY22), after having grown an estimated 8-9 per cent in FY21, riding on a sharp bounce-back in domestic demand.

Last fiscal, pandemic-led disruptions affected domestic demand even as exports surged. March-May 2021 was a particularly good period for Indian formulators due to exceptional demand for drugs amid the second wave of Covid-19 infections. It was, in fact, one of the best years for Indian pharma exporters.

Not surprisingly, key SME

Topics : SMEs Pharma industry CRISIL SME TRACKER small and medium enterprises SMEs

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