Rupee at 80: Neutral impact for India's pharma industry, say experts

India's pharma sector exported drugs worth Rs 1.8 trillion in 2021-22, while APIs worth Rs 30,000 crore were imported

The rupee has dropped nearly 7 per cent vis-à-vis the US dollar (USD) year-to-date in calendar year 2022 to the psychological mark of 80. However, the impact of this rupee depreciation is likely to be largely neutral for the Indian pharmaceutical sector, say industry insiders, as the benefits may be offset by rising input costs.
 
India’s pharmaceutical sector exported drugs worth Rs 1.8 trillion ($22.5 billion at INR-USD rate of 80) in 2021-22, according to the Ministry of Commerce. This was flat over the previous year. In 2020-21, however, the exports had clocked an 18 per cent