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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 clusters such as Ahmedabad, Mumbai, Chennai and Hyderabad are estimated to have witnessed good growth in FY21, due to the
