In 2008, Sino-Indian pharmaceutical trade developed steadily. From January to November, the bilateral trade volume totaled 2.685 billion U.S. dollars, an increase of 7.72% compared with the previous year. Among them, China's export of Indian products was 2.171 billion U.S. dollars, an increase of 13.46% year-on-year. China's imports of products from India were 513 million U.S. dollars, a year-on-year decrease of 11.26%. China-India trade surplus was 1.658 billion U.S. dollars.
Of the products China exported to India, western medicines are the most important products, with exports of 1.941 billion U.S. dollars, accounting for 89.38% of the total, an increase of 11.58% year-on-year. As the major upstream supplier of the Indian pharmaceutical industry, China exports raw material medicines to India. Mainly for all kinds of anti-infective drugs, especially antibiotics such as penicillin drugs. If Western medicine and biochemical medicines are added together, each with a value of around US$40 million, the total export of Western medicine products to India will reach 93%. Among other products, only the relative proportion of medical equipment and disposable consumables exceeded 1 percent, and exports were US$71 million and US$22 million, respectively, showing high concentration of the Indian pharmaceutical market. In terms of export growth, the export volume of health products was less than 80,000 U.S. dollars, but it was up 580% year-on-year. Western medicine rose 83% year-on-year, and the growth momentum was rapid.
On the import side, western medicine raw materials still have absolute advantages. The import volume is 423 million U.S. dollars, accounting for 82.4% of the total imports. Compared with the whole year of last year, the import volume of western medicine raw materials dropped by 15.9% year-on-year, and the largest drop in commodities. The diagnostic equipment, biochemicals and extracts ranked second to fourth, with export volumes of 44 million and 13.5 million U.S. dollars and 12.4 million U.S. dollars, respectively. In addition, the imports of medical dressings, oral equipment and materials, as well as Chinese herbal medicines and decoction pieces have all increased significantly, with increases of 323%, 198%, and 160%, respectively. Health care products increased by 2796% year-on-year, indicating that the Chinese market still has greater appeal and room for growth for Indian products.
In recent years, the Sino-Indian pharmaceutical trade has been plagued with frictions. A series of trade disputes centered on penicillin industrial salt anti-dumping cases have involved hundreds of millions of US dollars in the trade volume of related products, which has seriously affected the cooperation and development of the two countries. We believe that both China and India are emerging markets for the world's pharmaceutical trade. The existing industries are highly complementary and have broad prospects for cooperation in terms of process improvement, technology development, production management, and marketing. As the global financial crisis continues to intensify the attack on the real economy, it can be predicted that trade protectionism will re-emerge on a global scale. Under such unfavorable circumstances, we call on the Chinese and Indian governments and related companies to maintain maximum restraint. In the spirit of seeking common ground while reserving differences, prudently handling trade frictions, actively seeking solutions, and making due contributions to the promotion of bilateral and world-wide pharmaceutical economic development.
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