India's Pharma Exports Exceed $28 Billion in February, Post 5% Growth
India's Pharmaceuticals Sector Continues to Thrive
India's pharmaceutical exports have shown remarkable resilience in the face of global challenges, registering a growth of over 5 per cent compared to the same period last year. As of February of the current financial year, India's pharmaceutical exports stood at over $28 billion, a significant achievement for the sector.
The Pharmaceuticals Export Promotion Council of India (Pharmexcil) anticipates that the sector will continue to grow, with a projected value of $130 billion by 2030. This ambitious target is expected to be achieved through policy prioritisation, market diversification beyond traditional geographies, increased foreign direct investment (FDI) inflows, and improved regulatory efficiency.
Key Figures:
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| Period | Exports (in billions) |
|---|---|
| FY2024-25 | $30.47 |
| FY25 | $28.29 |
| Growth compared to FY25 | 5.6% |
According to K Raja Bhanu, Director General of Pharmexcil, the sector is expected to maintain its growth momentum despite global challenges. The country's pharmaceutical exports have been led by formulations, biologicals, vaccines, and AYUSH products. Notably, more than 60 per cent of India's pharmaceutical exports are directed towards highly regulated markets, underscoring the quality and compliance standards of the industry.
India ranks third globally in pharmaceutical production by volume, with exports reaching over 200 markets worldwide. The United States accounts for 34 per cent of exports, followed by Europe at 19 per cent. However, tariff-related issues in 2025 led to higher procurement of medicines worth $1.6 billion in the US, which is expected to impact the current financial year's figures.
Pharmexcil chairman Namit Joshi expects the sector to end the current financial year at levels similar to FY25. The exact figures will be available only after the March data is released. Looking ahead, Pharmexcil aims to achieve $65 billion in exports by 2030, a significant milestone for the sector.
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Investor Takeaway
India's pharma sector is expected to grow significantly, driven by exports and domestic demand.
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