Pharmaceutical Products Import Export Data

The global pharmaceutical market is in changing. The growth in developed markets has slowed down while emerging markets are growing. Industry experts predict the markets in India, China, Brazil, and Russia to grow fast. The Indian pharmaceutical sector shows some unique traits. Generic medicines constitute 70-80% of the market, the local players play a predominant role, and the price level is low. India is the largest supplier of generic medicines around the world. The Indian pharmaceutical sector supplies over 50% of the global vaccine. The pharmaceutical products export data shows that 40% of generic medicines in the US and 25% of medicines in the UK are supplied by Indian pharmaceutical companies.  

According to pharmaceutical products import data:-

• Imports decreased to 542.52 million USD in 2020 from 1773.2 USD million in 2019. The data showed India imported 235 billion INR in September 2020.
• India needs to import active pharmaceutical ingredient (API) or bulk medicines. API is an important pharmaceutical ingredient that is used to produce medicines. Indian medicine manufacturers import 70% from China. In 2028-19 India imported 2.4 billion USD bulk and intermediates from China. The Indian government wants to reduce India’s pharmaceutical sector's dependence on Chinese imports and has prepared a list of 38 API where India needs to become independent.

The pharmaceutical products import data shows the major bulk medicines imported from China are:-

• Paracetamol: 100%
• Metformin: 100%
• Amoxicillin: 90-95%
• Ampicillin: 100%
• Ibuprofen: 85-95%
• Ciprofloxacin: 100%

According to pharmaceutical products export data:-

• Exports of pharmaceuticals decreased in 2020 to 4395.6 million USD from 10799.61 million USD in 2019. 
• India is the largest exporter of generic medicines in terms of volume Indian generic medicines accounted for 20% of generic medicines exported globally. India exported 3.89 billion USD bulk medicines and intermediaries in FY20 and 1.41 billion USD in FY21.

India’s top exporting countries for pharmaceutical medicines are:-

• USA
• UK
• Russia
• South Africa
• Nigeria

The pharmaceutical products export data shows India’s top exporters are:-

• Sun Pharmaceutical Industries Ltd
• Dr. Reddy Laboratories Ltd.
• Divi Laboratories
• Cipla
• Aurobindo Pharma

The pharmaceutical products are displayed systematically on our website to help importers and exporters easy to identify the product. HS Code List of Pharmaceutical Products is listed in chapter 30 of Harmonized System Codes. The code is used by importers to find the applicable GST rates.

The top 5 Pharmaceutical Products with their HS codes are mentioned below:-

• Humira - 30049099
• Keytruda - 30049049
• Revlimid - 30049099
• Eliquis - 30041090
• Opdivo - 30049099

To find the exact HSN code for pharma medicines with updated custom shipment details, just explore the list of HS Codes for Pharmaceutical Products under Chapter 30.