New Delhi, Sept 26 (KNN) Dissecting the figures of slowed exports in the pharma sector which comprises of a fair share of the Micro, Small and Medium Enterprises (MSMEs), the early Goods and Services Tax (GST) implications as well as the pricing pressure have been prime causes among other resulting in the slowed export from the sector, Pharmaceutical Export Promotion Council (Pharmexcil) said.

Citing figures, Pharmexcil informed that in the April-July period, the pharma exports declined by 7.9 per cent. Although the figure revived in the August showing a growth of over 4 per cent growth, yet net exports during April - August period in the present fiscal stands low by over 4 per cent when compared to same period of the previous fiscal.

Commenting on the expected reasons behind the decline, Pharmexcil said that the decline could be a result of the regulatory issues faced by some companies.

Also pricing pressure in the United States of America have been a prime concern haunting the sector.

With regard to the newly implemented Goods and Services Tax (GST), the body said that sector did get affected temporarily under the complications in the compliance, because of which the export figure might have got affected, this however is seen temporary and the industry is eyeing at better figures ahead this fiscal, Pharmexcil added. (KNN/DA)