India's Booming Pharmaceutical Exports Surge Amid Global Challenges

India's pharmaceutical exports surpassed USD 28 billion, showing over 5% growth compared to last year. Despite global challenges, the sector is thriving with aims to reach USD 65 billion by 2030. The United States and Europe remain major market destinations within this high-growth sector.

India's pharmaceutical export industry has experienced significant growth, surpassing USD 28 billion up to February in the current financial year. This marks an over 5% increase compared to the same timeframe last year, according to K Raja Bhanu, Director General of the Pharmaceuticals Export Promotion Council of India (Pharmexcil).

Despite global challenges, the sector is projected to grow to USD 130 billion by 2030. Key drivers include formulations, biologicals, vaccines, and AYUSH products, which contributed to a 5.6% growth in exports during April–February FY26. In FY2024–25, exports reached USD 30.47 billion, growing by 9.4%, despite pricing pressures and trade volatility.

Pharmexcil aims to achieve USD 65 billion in exports by 2030 through market diversification, increased FDI, and improved regulatory efficiency. The U.S. and Europe are significant contributors to exports, underscoring India's compliance with high-quality standards.

(With inputs from agencies.)