India’s pharmaceutical exports soared to $30.47 billion in the fiscal year 2024–25, marking a 9.4% year-on-year growth. The Pharmaceuticals Export Promotion Council of India (PHARMEXCIL) informed Commerce Secretary Rajesh Agrawal that the exports are poised to exceed last year’s performance in the current financial year. PHARMEXCIL emphasized India’s global standing as the third-largest pharmaceutical producer by volume and a reliable provider of affordable, quality medicines to more than 150 nations, showcasing the potential for sustained export-driven expansion.
The leadership of PHARMEXCIL engaged in a series of high-level discussions with central government officials to address strategic priorities, policy coherence, and growth prospects aimed at bolstering India’s pharmaceutical exports. In a separate meeting with Department of Pharmaceuticals Secretary Manoj Joshi, PHARMEXCIL underscored the sector’s performance and growth trajectory. The domestic pharmaceutical market in India, presently valued at around $60 billion, is anticipated to reach $130 billion by 2030, as per the trade body’s projections.
Conversations with Department of Pharmaceuticals Joint Secretary Satya Prakash L. centered on enhancing collaboration between industry and academia across critical sectors like clinical trials, biopharmaceuticals, vaccines, and APIs. The focus was on fostering innovation, skill enhancement, and capacity development. Additionally, the delegation met with Director General of Foreign Trade Lav Aggarwal to update him on PHARMEXCIL’s key initiatives and seek ongoing backing for programs such as Chintan Shivir and iPHEX 2026.
PHARMEXCIL Chairman Namit Joshi remarked on the sector’s promising outlook, stating that India’s pharmaceutical industry is at a pivotal juncture. With robust export growth, a rapidly expanding domestic market, and consistent government backing, India is well-positioned to expand its global presence while upholding its reputation as a trusted pharmacy worldwide. Nipun Jain, Chairman of iPHEX 2026 & PHARMEXCIL MSME Committee, highlighted the significance of platforms like Chintan Shivir and iPHEX in supporting MSMEs and exporters by facilitating market access and promoting discussions on quality, innovation, and global competitiveness.
