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Indian pharmaceutical sector anticipates 8-10% growth driven by domestic expansion and regulated market exports

  • CRISIL analysis expects sales to increase 8-10% in 2023-24 fiscal year, fueled by domestic growth and increased exports.
  • The sector could also experience a 50-100 basis point improvement in operating profitability in this fiscal year, reaching approximately 21%.
  • The enforced claw-back taxes in specific European markets may impact growth of exports to Europe, while Asian markets are set to see improved growth.
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