New Delhi: India’s pharmaceutical exports rose 9.4% year-on-year to $30.47 billion in 2024–25, underscoring the sector’s growing global footprint and manufacturing strength, Commerce Secretary Rajesh Agrawal said on Tuesday.
Addressing a regional Chintan Shivir on pharmaceutical exports, Agrawal said India’s domestic pharma market, currently estimated at around $60 billion, is expected to nearly double to about $130 billion by 2030, reflecting the industry’s scale and innovation potential.
India is now the world’s third-largest pharmaceutical producer by volume and 14th by value, with over 3,000 companies, 10,500 manufacturing units and more than 60,000 generic brands across 60 therapeutic areas. Indian medicines are exported to over 200 markets, with more than 60% of shipments going to highly regulated destinations—a key indicator of global quality acceptance.
The US accounts for roughly 34% of exports, followed by Europe at about 19%.
The deliberations, organised by the Department of Commerce with PHARMEXCIL, focused on easing non-tariff barriers, expanding regulatory cooperation and mutual recognition, and strengthening awareness among MSME exporters. Officials also highlighted opportunities arising from recent trade agreements, including the India–UK CETA and the India–EFTA TEPA, which feature zero-tariff provisions expected to boost the competitiveness of Indian generics.
The government reiterated its focus on regulatory strengthening, revised GMP implementation, and building a robust life sciences ecosystem spanning R&D, biologics, vaccines and biosimilars to support the next phase of export growth