New Delhi– India’s pharmaceutical exports remained strong at $4.9 billion during April–May of FY26, according to the latest figures released by the Pharmaceuticals Export Promotion Council of India (Pharmexcil).
Pharmexcil, the official export promotion agency under the Ministry of Commerce and Industry, reported a 7.38% year-over-year growth during this period—underscoring the sector’s continued global momentum.
The growth, the agency said, can be attributed to “strategic initiatives focused on sustainable manufacturing, expanded global market presence, and digital innovation.” These efforts are expected to contribute significantly to India’s broader goal of reaching a trillion-dollar trade milestone in pharmaceuticals.
“India’s pharmaceutical exports continue to show steady year-on-year growth, with drug formulations and biologicals leading the way,” said Namit Joshi, Chairman of Pharmexcil, in a media statement.
He credited the performance to rising global demand, faster regulatory approvals, technological innovation, strategic partnerships, and India’s overall economic stability.
Formulations and biologicals made up the majority of exports, accounting for 75.74% of total outbound shipments. Bulk drugs and drug intermediates also posted a 4.40% growth in May.
Vaccine exports saw a 13.64% surge, reaching $190.13 million. Meanwhile, surgical products rose by 8.58%, and Ayush and herbal items climbed by 7.36%, reflecting healthy performance across diverse segments.
According to Pharmexcil, approximately 76% of India’s pharmaceutical exports are directed toward the North American Free Trade Agreement (NAFTA) region, along with Europe, Africa, and Latin America.
The United States remains the top export destination. In May, exports to the U.S. reached $1.7 billion, representing 34.5% of total pharma exports and a 1.5% increase compared to last year.
While exports to Europe and Africa showed moderate growth, the ASEAN region emerged as a newly contracted area, signaling opportunities for market expansion.
Joshi noted that the ongoing India–UK Free Trade Agreement (FTA) negotiations could significantly strengthen pharmaceutical supply chains and improve access to affordable medicines. He also emphasized the potential for increased foreign direct investment, particularly in contract development and manufacturing (CDMO) and joint research initiatives. (Source: IANS)
