The Indian Pharmaceutical industry has become the third largest in world in terms of volume and ranks 14th in terms of value at over Rs 1 lakh crore,the Economic Survey tabled today in Parliament said. "The Indian pharmaceutical industry has grown from a humble Rs 1,500 crore turnover in 1980 to approximately Rs 1,00,611 crore in 2009-10," the pre-Budget survey said. The growth of the Indian pharmaceutical industry has been fuelled by exports,which increased 25 per cent in 2008-09. "Exports of pharmaceuticals have consistently outstripped imports," The survey said. India exports drug,intermediaries,active pharmaceutical ingredients (APO),finished dosage formulations,bio-pharmaceuticals and clinical services. The top five destinations for such exports are the USA,Germany,Russia,UK and China.
