Pharma exports grow 9.4% to $30.47 billion in FY25; industry eyes double-digit expansion by 2026-27

India’s pharmaceutical exports rose 9.4 per cent in 2024–25 to $30.47 billion, with the industry targeting double-digit growth in 2026–27 amid efforts to expand global market access, the commerce ministry said on Saturday, PTI reported.

Issues related to pharmaceutical exports were discussed during a Chintan Shivir held in Ahmedabad between government officials and industry representatives, the ministry said.“The interaction underlined the government's focus on enabling conditions for sustained export acceleration, with industry indicating readiness to target double-digit growth in 2026-27,” it said.The domestic pharmaceutical sector, currently valued at around $60 billion, is projected to grow to $130 billion by 2030.India ranks third globally in pharmaceutical production by volume, exporting medicines to more than 200 markets worldwide. Over 60 per cent of exports are shipped to stringent regulatory markets, according to the ministry.The United States accounts for 34 per cent of India’s pharmaceutical exports, while Europe contributes 19 per cent.Exporters were also briefed on opportunities emerging from recent trade engagements with key partners, including the European Union and the United States.

“Engagement with the European Union was discussed in the context of a $572.3 billion pharmaceuticals and medical devices market, while a bilateral trade arrangement with the United States can further improve market access and price competitiveness for Indian pharmaceutical companies,” the ministry said.The commerce ministry added that it will continue consultations with exporters, regulators and Indian Missions abroad to ensure timely identification and resolution of sectoral issues, with the aim of supporting sustained growth in pharmaceutical exports across global markets.