Page 470 - ES 2020-21_Volume-1-2 [28-01-21]

External Sector 97

Figure 6: Top 10 Export Commodities in April-November 2020 and April-November 2019
[By Share in Per cent]

Apr-Nov. Petroleum Products
2020 2.2
2.2 Drug Formulations, Biologicals
8.8
2.5 Pearl, Precious, Semiprecious
2.3 2.6 Stones
2.3 4.5 13.5 Iron And Steel
Electric Machinery And
Equipment
2.3 Organic Chemicals
2.8 Apr-Nov.
2.7 2019 Marine Products
7.1
2.9 2.8 5.0 Gold and other precious metal
jewellery
3.0 RMG Cotton incl. Accessories
7.0
4.4 Products of Iron and Steel
5.5
Motor Vehicle/ Cars
Source: DoC

Box 1: India: Potential to be the “pharmacy of the world”
Indian pharmaceutical industry is third largest in the world, in terms of volume, behind China
and Italy and 14 largest in terms of value. India almost doubled its share in world pharma
th
exports in a span of ten years from 1.4 per cent in 2010 to 2.6 per cent in 2019. India was at
11 position in terms of share in world pharma exports in 2019 with Germany, Switzerland
th
and USA occupying the top three positions.
India enjoys a consistent and long run Revealed Comparative Advantage (RCA) in its
pharmaceutical exports since 2009. However, in a cross-country perspective, India’s
revealed comparative advantage (RCA) stands at 12 spot (Figure B1.1). In addition, Indian
th
pharmaceutical sector has high value of trade specialization coefficient (TSC), closer to one,
consistently from 2014-15. The value of TSC lies between -1 and 1, wherein a higher TSC
value denotes stronger export competitiveness of the country.
Figure B1.1: RCA for Top 15 Pharma Exporters (Sorted on 2019)

12
10
8
Ratio 6

4
2
0
Ireland Switzerland Denmark Belgium Austria Sweden France Italy Germany UK Netherlands India Spain USA China

2014 2015 2016 2017 2018 2019

Source: Survey calculation based on Trade Map data