India’s Pharma exports grow by 103% since 2013-14 Around 55 % of Indian pharma exports cater to highly regulated markets
Why is it in news?
Pharma exports in 2021-22 sustain a positive growth despite global trade
disruptions
Pharma trade balance continues to be in India’s favour
Highlights
Indian pharma exports witnessed a growth of 103% since 2013-14,
from Rs. 90, 415 Crores in 2013-14 to Rs. 1,83,422 Crores in
2021-22. The exports achieved in 2021-22 is the Pharma Sector’
best export performance ever. It is a remarkable growth with
exports growing by almost USD 10 billion in 8 years.
Highlighting the achievement in a tweet, the Union Minister of
Commerce and Industry, Consumer Affairs, Food and Public
Distribution and Textiles, Shri Piyush Goyal said that Under the
active leadership of Prime Minister, Shri Narendra Modi India has
been serving as the 'pharmacy of the world'.
Building on the outstanding performance in the previous FY 2020-
21, Indian pharma exports once again registered a healthy
performance in 2021-22. The pharma exports in 2021-22 sustained
a positive growth despite the global trade disruptions and drop in
demand for COVID related medicines. The trade balance continues
to be in India’s favour, with a surplus of USD 15175.81 Million.
Indian pharma companies enabled by their price competitiveness
and good quality, have made global mark, with 60 per cent of the
world’s vaccines and 20% of generic medicines coming from
India.
India ranks 3rd worldwide for production by volume and 14th by
value. Behind India’s pharma success story is our world class
manufacturing excellence, robust infrastructure, cost-
competitiveness, trained human capital and innovation. The current
market size of the Indian pharmaceutical industry is around USD
50 billion.
The share of pharmaceutical and drugs in our global exports is
5.92%. Formulations and biologicals continue to account for a
major share of 73.31% in our total exports, followed by Bulk drugs
and drug intermediates with exports of USD 4437.64 million.
India’s top 5 pharma export destinations are USA, UK, South
Africa, Russia and Nigeria.
It is also noteworthy that around 55 % of our pharma exports cater
to highly regulated markets. Indian pharma companies have a
substantial share in the prescription market in the US and EU. The
largest number of FDA approved plants outside the US is in
India.
Even in the year, 2020-21, Indian drugs and pharmaceuticals had
registered a sharp growth amid the COVID despair, achieving an
export of USD 24.4 Bn with a YoY growth of 18%.
The extraordinary exports growth in 2020-21 was achieved braving
the frequent lock downs, global supply chain disruptions and the
depressed manufacturing sector. Indian pharma industry played a
pivotal role in fighting against the COVID pandemic and
demonstrating to the world that we continue to be a reliable and
dependent partner when it comes to dealing with a global health
crisis.
Indian vaccine industry developed Covid vaccine with indigenous
technology in collaboration with India’s research institution like
ICMR and NIV with in shortest time on par with highly developed
countries like America and EU. India provided 115million doses
of vaccines to more than 97 countries.
As part of the trade agreements, India also signed cooperation
agreement with UAE and Australia which will give enhanced
access to Indian pharma products to these markets.
India-UAE Comprehensive Economic Partnership Agreement (CEPA) enters into force
The historic India-UAE Comprehensive Economic Partnership
Agreement (CEPA) which was signed between the two nations on 18
February 2022, officially entered into force today.
Why is it in news?
Secretary, Department of Commerce, Shri BVR Subrahmanyam flagged
off the first consignment of goods comprising of Jewellery products
from India to UAE under the India-UAE CEPA at a function in New
Customs House in New Delhi today.
Highlights
In a symbolic gesture operationalizing the landmark Agreement,
Shri B V R Subrahmanyam, Hon’ble Commerce Secretary to
Government of India, handed over Certificates of Origin to three
exporters from the Gems & Jewellery sector. The aforementioned
consignment which will now attract zero customs duty under this
Agreement is expected to reach Dubai today, 01 May 2022.
Gems & Jewellery sector contributes a substantial portion of
India’s exports to the UAE and is a sector that is expected to
benefit significantly from the tariff concessions obtained for Indian
products under the India-UAE CEPA.
Overall, India will benefit from preferential market access
provided by the UAE on over 97 % of its tariff lines which account
for 99% of Indian exports to the UAE in value terms particularly
from labour-intensive sectors such as Gems and Jewellery,
Textiles, leather, footwear, sports goods, plastics, furniture,
agricultural and wood products, engineering products,
pharmaceuticals, medical devices, and Automobiles.
As regards trade in services, Indian service providers will have
enhanced access to around 111 sub-sectors from the 11 broad
service sectors.
CEPA is expected to increase the total value of bilateral trade in
goods to over US$100 billion and trade in services to over US$ 15
billion within five years.
Speaking at the ceremony, Commerce Secretary said it was a
momentous occasion.
Highlighting the immense potential for strategic partnership
between the two nations, he said that the agreement is a trendsetter
because of the short time in which it was negotiated.
He added that although the agreement had envisioned a target of
USD 100 billion worth of trade, given the size of India's market
and the access that UAE would give to India, much more could be
achieved.
Noting that the agreement was an outcome of the vision of the
leaders of the two nations, the Commerce Secretary said that for
India, UAE would be a gateway to the world.
Underscoring the need for India products to be competitive in the
international market, the Secretary said that there was a need to
build and augment our capacities.
He also added that the government was working on reducing the
logistics cost so that the products from hinterland could also be
competitive.
The Commerce Secretary informed that India was negotiating trade
agreements at a very fast pace with complementary economies and
that talks were ongoing with UK, Canada and EU.
He also spoke of the need to communicate the benefits of such
trade agreements to the exporter community in layman's language
so that they understand the provisions of the agreement and make
the best possible use of it.
Highlighting the need for market intelligence and data analytics,
which the government would be focusing on in future, the
Secretary urged the exporters to take advantage of free trade
agreements.
Stating that USD 670 bn of exports (goods and service) during last
fiscal year constituted 22-23% of the GDP, Shri Subrahmanyam
said that exports are an important engine of growth in every
economy and added that the world was looking to India as a
reliable partner.
Conveying a vision for India's future in 2047, the Secretary said
that we would be a USD 40 trillion economy in the next 25 years.
He asserted that the Department of Commerce has also been
strengthening itself to be future ready and meet the challenges of
tomorrow with focus on trade promotion.
Shri Santosh Kumar Sarangi, Director General of Foreign Trade;
Shri Surjit Bhujbal, Chief Commissioner of Customs; Shri Sanjay
Bansal, Commissioner of Customs; other senior officials from
Department of Commerce; and representatives from
Industry/Exporters Community and media fraternity witnessed this
ceremony.
DD National Pet Show wins ENBA Award 2021
DD National Pet Show wins ENBA Award 2021
Yet again, proving its mettle when it comes to production of quality
content that matters, Doordarshan has won ENBA Award 2021 for the
best in-depth Hindi series. TV series based on pet care ‘Best Friend
Forever’ on Doordarshan has won big at the 14th edition of the
Exchange4media News Broadcasting Awards (ENBA).
Best Friend Forever is half-an-hour weekly live phone-in show on DD
National, wherein two pet experts guide people on how to take care of
their pets, about their food, nutrition, routine health check-ups,
vaccination and other pet related issues. Objective of the show is to
maintain a two way communication where viewers can directly call and
talk to the experts, and share their worries and experiences. From the
first day, phone calls started pouring in from across the country. Apart
from other age-groups, youngsters and kids engage the most with the
show.
The show also features stories which explain unique relationship one
develops with their pets and how pets not only take the modern day
stress away but are also life-savers. The show is aired every Sunday at 7
pm and is also available on the YouTube channel of DD National. Click
on the given link to watch all the episodes so far -
https://www.youtube.com/playlist?list=PLUiMfS6qzIMzRVOMb92wfg
Gf22hgVo8p6
The coveted ENBA awards celebrate remarkable work done by
individuals and leaders in the media industry who are responsible for
shaping the future of Television broadcasting in India.
Vice President calls for taking higher education to rural areas to make it more inclusive and equitable
Vice President calls for taking higher education to rural areas to
make it more inclusive and equitable
The Vice President, Shri M. Venkaiah Naidu today called for taking
higher education into the rural areas and making it more inclusive and
equitable.
Why is it in news?
Education plays a key role in nation-building and creating a prosperous
global future: VP
Ultimate aim of the research is to make people’s lives happier and more
comfortable: VP
Highlights
National Education Policy (NEP-2020) will revolutionize the
educational landscape of the country: VP
NEP’s emphasis on imparting education in one’s mother tongue
will prove to be a game-changer: VP
Describing the National Education Policy (NEP-2020) as a far-
sighted document which is set to revolutionize the educational
landscape of the country, he said that its emphasis on imparting
education in one’s mother tongue when implemented in schools,
colleges and universities will prove to be a game-changer.
Calling for providing basic education in a child's mother tongue,
Shri Naidu said the local language must be the main mode of
communication in the administration and courts. “Every gazette
notification and government order should be in the local or native
language so that the common man understands it,” he added.
Vice President inaugurates the Centenary Celebration of Delhi
University
VP exhorts Indian universities to aspire for top rankings globally
This dimension of inclusiveness and equitable access to education
to rural youth is critical because education plays a key role in
human development, nation-building, and creating a prosperous
and sustainable global future, the Vice President stressed.
Speaking at the Centenary celebrations of the Delhi University,
Shri Naidu emphasised that Universities must come out with
innovative and out of box ideas to address the pressing problems of
the society.
He also said that the ultimate aim of the research should be to
make people’s lives more comfortable and happier.
Pointing out that India has the world’s largest youth population,
the Vice President called for harnessing the collective power of our
human resources for nation building.
Shri Naidu reminded the gathering that ancient India had enjoyed
the reputation of being a Viswaguru and was a renowned cradle of
culture.
He said reputed centres of knowledge, among the earliest known to
humanity, like the universities of Nalanda, Takshashila,
Vikramshila, Vallabhi and Odantapuri bear ample testimony to this
fact.
Declaring that it is his deep-seated wish to see Indian Universities
ranked among the top 10 universities of the world, the Vice
President asked all stakeholders to work with this aim in mind.
Observing that education is not merely for employment, he said it
was for enhancement of knowledge and enlightenment. Education
is a lifelong process of learning and does not end with mere
acquisition of degrees.
He exhorted the students to dream big, aim high and work hard to
succeed in life.
Emphasising the importance of peace for achieving all-round
progress, the Vice President said that one would not be able to pay
attention to anything if there is tension.
Stressing the need for Indianization of our education system, the
Vice President wanted the educational institutions to promote
Indian culture and traditional values such as respect for elders,
respect for teachers and love for nature.
Referring to the increasing frequency of extreme climatic events
like the ongoing heat wave, he urged everyone to respect and live
in harmony with nature.
Shri Naidu also advised the students to give equal importance to
sports and games or yoga for physical fitness and avoid a sedentary
lifestyle.
He also wanted them to eat properly cooked traditional food as
prescribed by ancestors according to our bodily needs and climatic
conditions.
On this occasion, the Vice President also released the
Commemorative Centenary Stamp, Commemorative Centenary
Coin, Commemorative Centenary volume and the Delhi University
Undergraduate Curriculum Framework- 2022 (Hindi, Sanskrit &
Telugu versions).
He also launched the Centenary Website of the University and
felicitated Ms. Kritika Khinchi, student of Gargi College and
creator of the Centenary Logo for the University of Delhi.
Shri Dharmendra Pradhan, Union Minister of Education and Skill
Development & Entrepreneurship, Prof. Yogesh Singh, Vice
Chancellor, Delhi University, Prof. Shri Prakash Singh, Director
South Delhi Campus, Ms Manju Kumar, Chief Postmaster
General, Delhi Circle, Prof. Balram Pani, Dean of Colleges, Dr.
Vikas Gupta, Registrar, Prof. Rajni Abbi, Proctor, Prof. Nerra
Agnimitra, Convener, Centenary Celebrations, faculty, staff,
students and other dignitaries attended the event.
GST Revenue collection for April 2022 highest ever at Rs 1.68 lakh crore
GST Revenue collection for April 2022 highest ever at Rs 1.68 lakh
crore
Gross GST collection in April 2022 is all time high, Rs 25,000 crore
more than the next highest collection of Rs. 1,42,095 crore, just last
month
The gross GST revenue collected in the month of April, 2022 is Rs
1,67,540 crore of which CGST is Rs 33,159 crore, SGST is Rs 41,793
crore, IGST is Rs 81,939 crore (including Rs 36,705 crore collected
on import of goods) and cess is Rs 10,649 crore (including Rs 857
crore collected on import of goods).
Why is it in news?
The gross GST collection in April 2022 is all time high, Rs 25,000 crore
more than the next highest collection of Rs. 1,42,095 crore, just last
month.
Highlights
The government has settled Rs 33,423 crore to CGST and Rs
26962 crore to SGST from IGST.
The total revenue of Centre and the States in the month of April
2022 after regular settlement is Rs 66,582 crore for CGST and
Rs 68,755 crore for the SGST.
The revenues for the month of April 2022 are 20% higher than the
GST revenues in the same month last year.
During the month, revenues from import of goods was 30% higher
and the revenues from domestic transaction (including import of
services) are 17% higher than the revenues from these sources
during the same month last year.
For the first time gross GST collection has crossed Rs 1.5 lakh
crore mark. Total number of e-way bills generated in the month of
March 2022 was 7.7 crore, which is 13% higher than 6.8 crore e-
way bills generated in the month of February 2022, which reflects
recovery of business activity at faster pace.
Month of April 2022 saw the highest ever tax collection in a single
day on 20th April 2022 and highest collection during an hour,
during 4 PM to 5PM on that day. On 20th April 2022, Rs 57,847
crore was paid through 9.58 lakh transactions and during 4-5 PM,
almost Rs 8,000 crore was paid through 88,000 transactions.
The highest single day payment last year (on the same date) was
Rs 48,000 crore through 7.22 lakh transactions and highest one
hour collection (2-3PM on the same date last year) was Rs 6,400
crore through 65,000 transactions.
During April 2022, 1.06 crore GST returns in GSTR-3B were
filed, of which 97 lakh pertained to the month of March 2022, as
compared to total 92 lakh returns filed during April 2021.
Similarly, during April 2022, 1.05 crore statements of invoices
issued in GSTR-1 were filed. Till end of the month, the filing
percentage for GSTR-3B in April 2022 was 84.7% as compared to
78.3% in April 2021 and the filing percentage for GSTR-1 in April
2022 was 83.11% as compared to 73.9% in April 2021.
This shows clear improvement in the compliance behaviour, which
has been a result of various measures taken by the tax
administration to nudge taxpayers to file returns timely, to making
compliance easier and smoother and strict enforcement action
taken against errant taxpayers identified based on data analytics
and artificial intelligence.
The chart below shows trends in monthly gross GST revenues
during the current year. The table shows the state-wise figures of
GST collected in each State during the month of April 2022 as
compared to April 2021.