India 2nd largest exporting destination for China

By agencies   |   Thursday, 25 May 2006, 07:00 Hrs
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MUMBAI: India has become the second largest market for pharmaceutical products and ingredient exports from China, next to the U.S., registering a big leap of 172.44 percent growth during the year 2005, in comparison to the previous year.

Various pharmaceutical products and ingredient exports to India from China touched over $300 million worth products at $303 million in 2005, a substantial increase from about $120 million in 2004, sources with China Pharmaceutical Industry Association (CPIA) said.

"Indian pharmaceutical companies view China as a major sourcing destination for various raw materials mainly due to the cost effectiveness and quality assurance offered by Chinese companies. Though numerous Indian companies have established direct sourcing contacts with Chinese,” it said.

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