India’s pharmaceutical exports registered a healthy 9.4% growth in the fiscal year 2024‑25, reaching USD 30.47 billion, according to data released by the commerce ministry.
This performance underscores the resilience and global relevance of the Indian pharma industry, even as it navigates pricing pressures and regulatory challenges in international markets.
The increase in FY25 export earnings comes amid a broader strategic dialogue between government officials and industry leaders on export acceleration at a Chintan Shivir in Ahmedabad. Stakeholders reaffirmed their commitment to boosting export performance, with India’s pharmaceutical exports now targeting a return to double‑digit expansion by 2026‑27.
India remains a major force in global pharmaceuticals, ranking third by export volume globally, with medicines shipped to over 200 markets worldwide. More than 60% of these exports head to highly regulated markets, where stringent quality and compliance standards drive demand for Indian generics and formulation products. The United States accounts for around 34% of pharma exports, while Europe constitutes about 19%, making these regions key pillars of external demand.
Industry participants and officials noted that growth in 2024‑25 signals a period of stabilisation and strategic repositioning for exporters. While robust demand for affordable generic medicines remains the backbone of export volumes, companies are placing greater emphasis on higher‑value segments such as complex generics, injectables, biosimilars and contract manufacturing for global innovator firms. This shift reflects a broader industry focus on enhancing product mix and profitability amid competitive market dynamics.
Addressing regulatory and operational barriers remains a key priority. Discussions at the Ahmedabad conclave highlighted the need for predictable regulations, faster approval timelines, and improved coordination between policymakers, regulators and industry to sustain export momentum. Strengthening these frameworks will be critical as exporters seek new opportunities in emerging markets and broaden their presence beyond traditional strongholds.
Looking ahead, the industry’s medium‑term vision aligns with projections that India’s broader pharmaceutical sector — including domestic and international sales — could be worth around USD 130 billion by 2030, more than doubling its current valuation of approximately USD 60 billion. Achieving double‑digit export growth by 2026‑27 is viewed as an important stepping stone toward this larger goal.
Experts believe that success in this next phase will depend on deepening value‑driven exports, enhancing supply‑chain resilience and expanding geographic reach into high‑growth regions such as Africa, Latin America and parts of Asia. If trade facilitation efforts and policy support remain aligned with industry execution, India’s pharmaceutical exports are poised for durable and sustained expansion on the global stage.
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