Pharma Import Trends: Q1 2025 Insights
India's pharmaceutical imports surged 15% in Q1 2025, driven by increased demand for specialty APIs and advanced formulations. The government’s new trade policies and streamlined customs processes have played a significant role. Key import partners include Germany, Switzerland, and the US. Experts predict continued growth as domestic pharma companies expand their global reach.
In-depth Details:
This quarter's growth is attributed to the rising need for high-quality raw materials and the expansion of domestic manufacturing capabilities. The government’s focus on ease of doing business has resulted in faster customs clearance and reduced bottlenecks at major ports. Notably, the import of specialty APIs has seen a 20% year-on-year increase, reflecting the industry's shift towards complex formulations. Industry leaders are optimistic about the future, citing ongoing collaborations with European suppliers and the adoption of advanced supply chain technologies. The report also highlights the importance of regulatory compliance and the role of digital platforms in streamlining import documentation.