Hyderabad: A senior Commerce and industry ministry official on Wednesday said that the Indian pharma exports in the current fiscal may witness a near double-digit growth similar to that of last year.

Speaking at the sidelines of BioAsia 2017 event, Sudhangshu Pandey,  joint secretary, Commerce ministry said: “Pharma exports have done better than many sectorial exports and we are in near double digit growth. Last month, growth has also been good it is about 8 per cent. So I see that despite overall contraction and slowdown, pharma exports doing relatively better. I dont think that it  (double digit growth) would be possible.”

Mr Pandey added: “We should be some way between 8 to 10 per cent. That is what is the anticipation, the Indian Pharma exports stood at $16.9 billion in the last financial year, growing at 9.44 per cent with $5.7 billion to United States and $3.3 billion to Africa, as per the statistics supplied by Pharmexcil. The exports stood at $15.4 billion in 2014-15.

When asked about the possible impact of Brexit, Mr Pandey said that the effects have stabalised for now in regards to exports in Britain or Europe.