NEW DELHI– India’s pharmaceutical exports rose to $30.47 billion in the 2024–25 financial year, marking a 9.4 percent year-on-year increase, and are on track to exceed last year’s performance in the current fiscal, industry representatives said on Monday.
The Pharmaceuticals Export Promotion Council of India said it conveyed the latest export figures and outlook to Commerce Secretary Rajesh Agrawal, noting that India continues to strengthen its position as a major global supplier of medicines.
The trade body highlighted that India is the world’s third-largest pharmaceutical producer by volume and supplies affordable, quality-assured medicines to more than 150 countries, underscoring the sector’s potential for sustained export-led growth.
According to a statement, PHARMEXCIL’s leadership held a series of high-level meetings with senior central government officials to discuss strategic priorities, policy coordination, and growth opportunities aimed at further boosting pharmaceutical exports.
In a separate meeting with Department of Pharmaceuticals Secretary Manoj Joshi, the council outlined the sector’s current performance and long-term growth trajectory. India’s domestic pharmaceutical market, currently estimated at about $60 billion, is projected to expand to $130 billion by 2030.
Discussions with Joint Secretary Satya Prakash L. focused on enhancing collaboration between industry and academia across areas such as clinical trials, biopharmaceuticals, vaccines, and active pharmaceutical ingredients, with an emphasis on innovation, skills development, and capacity building.
The delegation also met Director General of Foreign Trade Lav Aggarwal to brief him on key initiatives and to seek continued government support for industry platforms and export promotion programs.
Commenting on the engagements, PHARMEXCIL Chairman Namit Joshi said India’s pharmaceutical industry is at a critical turning point, supported by strong export momentum, a rapidly expanding domestic market, and consistent policy backing.
iPHEX 2026 and PHARMEXCIL MSME Committee Chairman Nipun Jain said industry platforms play a vital role for small and medium exporters by improving market access and encouraging dialogue on quality, innovation, and global competitiveness. (Source: IANS)
