Ukraine crisis may impact Indian pharma units: FICCI
- A survey by Federation of Indian Chambers of Commerce and Industry (FICCI) reports that political disputes in Ukraine would affect India’s exchange rate & domestic pharmaceutical companies based there by making the landed cost of Indian pharmaceuticals higher.
- The recent developments in Ukraine has so not impacted the businesses of Indian pharmaceutical companies in Ukraine.
- India’s total trade with Ukraine in 2012-13 was $3.18 billion, exports of pharmaceuticals from India were $154 million (30% of India’s total exports to Ukraine) making Ukraine India’s second largest trading partner in the Commonwealth of Independent States after Russia.
- The devaluation of the local currency (Hryvnia) against the dollar raised concern over impact on the pharmaceutical companies.
- Currency Devaluation
- India Ukraine Bilateral relations