India Pharma Exports Surge Towards $130 Billion Goal

India's pharmaceutical sector is experiencing strong growth, with exports projected to reach $130 billion by 2030. As of February in the current financial year, exports stood at $28.29 billion, reflecting a 5.6% increase over the same period last year. This growth trajectory has been maintained despite global challenges, with significant contributions from formulations, biologicals, vaccines, and AYUSH products.

For the full fiscal year 2024-25, exports reached $30.47 billion, an increase of 9.4%. However, the current financial year is anticipated to conclude at levels similar to the previous year due to tariff-related issues in the US in 2025, which increased medicine procurement. India ranks third globally in pharmaceutical production by volume and exports to over 200 markets worldwide.

More than 60% of India's pharmaceutical exports go to highly regulated markets. The United States accounts for 34% of these exports, followed by Europe at 19%. Pharmexcil aims to achieve $65 billion in exports by 2030 through strategic policy, market diversification, increased FDI, and improved regulatory efficiency.