NEW DELHI: Inject a dose of pharma stocks in your portfolio if you do not own them already, Rakesh Jhunjhunwala , often called India’s Warren Buffett , said in an interview with ET Now.Indian pharma exports stands at $17 billion at present and grew 9.4 per cent in 2015-16, said a report. The domestic pharma industry exports $12.7 billion worth of pharma goods in the generic category, which is 5.8 per cent of the overall global generic market.The Nifty Pharma index has already corrected about 7 per cent so far in 2016 weighed down largely by concerns over regulatory hurdles, expensive valuations, falling volume and USFDA concerns, which have capped the upside for the sector.The pharma industry grew 6.4 per cent in March, the slowest growth this financial year, showed a report.Market experts say there is big potential in the pharma space for those with a long-term view. “I am bullish on pharma... Indian pharma supplies 40 per cent of American generics and 7 per cent value,” Jhunjhunwala said."If this 40 per cent becomes 50 per cent and we have to go up in the value chain, what is going to happen? We should understand that Indian costs are very low, Indian companies are getting size, Indian entrepreneurs have understood the market. Why will these companies not grow? The whole market is an absolute lottery,” he said.Top pharma companies such as Cipla (down 17 per cent), Lupin (down 12 per cent), Divi's Laboratories (down 7 per cent), Glenmark pharma (down 7.3 per cent), and Aurobindo Pharma (down 6.8 per cent) have lost value in the market so far in calendar 2016.One thing investors should take note of is the fact that earnings have grown for most pharma names, be it Cipla, Cadila Sun Pharma , Divi’s, Aurobindo Pharma or Glenmark, which is a positive sign.Cipla’s earnings per share (EPS) grew to 20.97 from its five-year average of 15.35, while for Lupin it rose to 44.61 from its five-year average of 33.90.Regulatory headwinds that have emerged in 2016 are likely to impact earnings of some of the top pharma companies, say experts. But those looking to invest in the sector should have a long-term horizon, they said.Latest data showed there have been over 400 observations on Indian pharma from the USFDA over the past 12 months."USFDA is a temporary problem. You must not read into anything in the sense that if the importance of size and importance of Indian pharma is growing, they also need to gear up to the required standards of the US,” said Raamdeo Agrawal, joint managing director, Motilal Oswal Financial Services “Indian generics have no global alternatives for the long term. I see a sign of maturity scaling up in Indian pharma. Most pharma companies can throw up wonderful opportunities for investors to buy these stocks 30-40 per cent cheaper if you have faith in them. The business opportunity is beyond doubt because the world needs generics,” he said.