Pharma exports up 9.4 pc in FY25; industry aims for double-digit expansion in 2026-27

New Delhi, Feb 21 (PTI) The commerce ministry on Saturday said the country's pharma exports grew 9.4 per cent in 2024-25 to USD 30.47 billion and the industry is aiming for a double-digit expansion in 2026-27.

Issues pertaining to pharmaceuticals exports were discussed between the government officials and industry during Chintan Shivir in Ahmedabad.

The sector, currently valued around USD 60 billion, is projected to reach USD 130 billion by 2030.

India ranks third globally by volume, with medicines exported to over 200 markets, and more than 60 per cent of exports destined for stringent regulatory markets.

The US accounts for 34 per cent and Europe for 19 per cent of India's pharmaceutical exports.

"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.

It added that exporters were also apprised of opportunities arising 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 USD 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," it added.

The ministry added that it will continue engagement with exporters, regulators and Indian Missions abroad to ensure timely identification and resolution of issues, thereby supporting sustained growth in pharmaceutical exports in global markets. PTI RR TRB