NEW DELHI, India — India’s pharmaceutical exports rose to $30.47 billion in the 2024–25 financial year, marking a 9.4% increase from the previous year, driven by a robust manufacturing base and widening global reach, Commerce Secretary Rajesh Agrawal said on Wednesday.
Speaking at a one-day Regional Chintan Shivir on Pharmaceutical Exports, Agrawal said India’s domestic pharmaceutical market is currently valued at about $60 billion and is expected to more than double to roughly $130 billion by 2030, underscoring the sector’s scale and long-term growth potential.
He noted that India is now the world’s third-largest pharmaceutical producer by volume and ranks fourteenth by value. The country’s pharma ecosystem includes more than 3,000 companies, around 10,500 manufacturing units, and over 60,000 generic brands spanning 60 therapeutic areas.
Indian pharmaceutical products are exported to more than 200 markets worldwide, with over 60% of shipments going to countries with stringent regulatory standards. The United States remains the largest destination, accounting for about 34% of exports, followed by Europe at approximately 19%. Agrawal said India’s reputation as a dependable supplier of affordable, quality-assured medicines provides a strong base for the next phase of export expansion.
Discussions during the Chintan Shivir focused on increasing awareness among exporters, particularly micro, small, and medium enterprises, about India’s evolving international trade and cooperation framework. Sessions also addressed policy initiatives, regulatory requirements, and capacity-building measures relevant to pharmaceutical exports.
Participants examined key challenges such as non-tariff barriers and regulatory hurdles, while exploring opportunities to expand regulatory cooperation and mutual recognition arrangements to speed up and streamline approval processes. Deliberations also highlighted the need to strengthen India’s life sciences innovation ecosystem, including research and development, clinical trials, biologics, vaccines, and biosimilars.
Agrawal said the government’s broader vision is to position India as a trusted global trade partner and increase the country’s share of global pharmaceutical trade, improving access to affordable healthcare worldwide.
Officials also briefed participants on recent developments in India’s international trade landscape, including the India–UK Comprehensive Economic and Trade Agreement signed on July 24, 2025, and the India–European Free Trade Association Trade and Economic Partnership Agreement, which came into force on October 1, 2025. (Source: IANS)
