India’s pharmaceutical exports rose to US$ 30.47 billion in FY 2024-25, registering a year-on-year growth of 9.4%, and are expected to surpass last year’s levels in the current financial year, according to a report by IANS quoting the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL). The council shared the update with Commerce Secretary Rajesh Agrawal during a review meeting. The industry’s optimism is based expanding its global footprint and overcoming the possible constraints of US ‘reciprocal’ tariffs.
IANS reported that PHARMEXCIL noted India is the world’s third-largest pharmaceutical producer by volume and a trusted global supplier of affordable, quality-assured medicines to more than 150 countries, underscoring the industry’s strong potential for sustained export-led expansion.
In a series of high-level meetings with senior government officials, PHARMEXCIL representatives discussed strategic priorities, policy alignment, and growth opportunities to strengthen India’s pharmaceutical exports.
During a separate meeting with department of pharmaceuticals secretary Manoj Joshi, the council outlined the sector’s robust growth trajectory, noting that India’s domestic pharmaceutical market—currently valued at around US$ 60 billion—is projected to reach US$ 130 billion by 2030.
Further discussions with department of pharmaceuticals joint secretary Satya Prakash L focused on enhancing collaboration between industry and academia across key areas such as clinical trials, biopharmaceuticals, vaccines, and active pharmaceutical ingredients (APIs), with an emphasis on innovation, skills, and capacity building.
The PHARMEXCIL delegation met director general of foreign trade, Lav Aggarwal, to review key initiatives and seek continued support for programmes like Chintan Shivir and iPHEX 2026.
Commenting on the developments, PHARMEXCIL chairman Namit Joshi said, “India’s pharmaceutical sector stands at a pivotal inflection point. With strong export momentum, a rapidly growing domestic market, and consistent policy support, we are poised to further strengthen our global footprint and reinforce India’s role as the world’s trusted pharmacy.”
Nipun Jain, chairman of iPHEX 2026 and PHARMEXCIL’s MSME Committee, said platforms such as Chintan Shivir and iPHEX serve as vital enablers for MSMEs and exporters by fostering market access, quality enhancement, and innovation-driven competitiveness, the IANS report said.
