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FICCI Predicts That Ukraine Crisis May Affect Indian Pharma

March 19, 2014 by KRS Leave a Comment

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.

Exams Perspective

  1. FICCI
  2. Currency Devaluation
  3. India Ukraine Bilateral relations

Filed Under: Current Affairs, Economy Tagged With: Currency Devaluation, FICCI, India Ukraine Bilateral relations

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