India’s pharmaceutical exports registered a robust growth of over 9 per cent in the financial year 2024-25, reaching USD 30.47 billion, Commerce Secretary Rajesh Agrawal announced on December 17. Addressing stakeholders through a video message while inaugurating a one-day Regional Chintan Shivir on Pharmaceutical Exports from Chandigarh, Agrawal highlighted that Indian medicines today enjoy widespread global acceptance, particularly in quality-conscious and highly regulated markets.
According to official data shared during the event, pharma exports grew by 9.4 per cent over the previous year, reflecting the sector’s resilience despite global economic uncertainty, supply chain disruptions, and increasing regulatory scrutiny. The Commerce Secretary underlined that the export growth mirrors India’s expanding footprint as a reliable supplier of affordable and quality medicines, especially generic drugs, vaccines, and critical formulations.
Domestic market growth signals long-term strength
Agrawal also drew attention to the size and growth trajectory of India’s domestic pharmaceutical market, which is currently valued at approximately USD 60 billion. He said the market is expected to nearly double to around USD 130 billion by 2030, driven by rising healthcare demand, demographic changes, increased health insurance penetration, and government-led health initiatives.
“The scale, depth, and innovation capacity of India’s pharmaceutical ecosystem position it uniquely in the global life sciences value chain,” the Commerce Secretary said, emphasising that domestic growth and export expansion are mutually reinforcing.
India is currently the world’s third-largest pharmaceutical producer by volume and ranks 14th globally by value. The sector comprises more than 3,000 pharmaceutical companies and over 10,500 manufacturing units, producing in excess of 60,000 generic brands across nearly 60 therapeutic categories. From antibiotics and cardiovascular drugs to oncology medicines and vaccines, Indian pharma products cater to a wide spectrum of global healthcare needs.
Indian medicines are exported to over 200 countries and territories, with more than 60 per cent of exports destined for markets governed by stringent regulatory frameworks. The United States remains India’s single largest export destination, accounting for roughly 34 per cent of total pharmaceutical exports, followed by Europe at around 19 per cent. These figures, officials noted, reflect sustained global trust in India’s regulatory compliance, manufacturing standards, and supply reliability.
Chintan Shivir: A platform for strategic deliberations
The Regional Chintan Shivir was organised by the Department of Commerce, Government of India, in collaboration with the Pharmaceutical Export Promotion Council of India (PHARMEXCIL). The event brought together a wide cross-section of stakeholders, including policymakers, central and state regulators, industry leaders, exporters, particularly from the Micro, Small and Medium Enterprises (MSME) segment, Indian missions abroad, and technical experts.
The objective of the conclave was to deliberate on ways to strengthen India’s pharmaceutical export ecosystem in a rapidly evolving global trade environment. Discussions focused on overcoming non-tariff barriers, streamlining regulatory processes, expanding regulatory cooperation with partner countries, and enhancing mutual recognition mechanisms to reduce duplication and compliance costs.
A significant emphasis during the deliberations was placed on building a robust life sciences innovation ecosystem. Participants discussed the need to strengthen research and development capabilities, promote clinical trials, and scale up advanced segments such as biologics, biosimilars, vaccines, and novel drug delivery systems.
Officials noted that while India has traditionally dominated the global generics market, the next phase of growth will increasingly depend on value-added products, innovation-driven manufacturing, and advanced therapeutics. Strengthening academia-industry collaboration and facilitating access to skilled manpower were identified as key enablers in this transition.
Trade agreements boost export competitiveness
The Chintan Shivir also featured detailed briefings on recent developments in India’s international trade architecture. Participants were informed about the India-United Kingdom Comprehensive Economic and Trade Agreement, signed in July 2025, and the India-European Free Trade Association Trade and Economic Partnership Agreement, which came into force in October 2025.
Officials highlighted that these agreements provide zero-tariff access for several pharmaceutical products, significantly improving the competitiveness of Indian generic medicines in key global markets. Beyond tariff reductions, the agreements are expected to facilitate investment flows, promote technology transfer, and generate employment across the pharmaceutical value chain.
Technical sessions during the programme addressed a range of critical issues affecting pharmaceutical exports. These included Antimicrobial Resistance (AMR), the need for continuous skilled manpower development, changes under the evolving Foreign Trade Policy, and implications of the Goods and Services Tax (GST) regime for exporters.
A key area of focus was the implementation of revised Good Manufacturing Practices (GMP), which align Indian manufacturing standards more closely with global benchmarks. Experts stressed that while the revised GMP norms may initially pose compliance challenges, especially for MSMEs, they are essential for sustaining India’s credibility in regulated markets.
Experts from premier institutions such as the Council of Scientific and Industrial Research-Institute of Microbial Technology (CSIR-IMTECH), National Institute of Pharmaceutical Education and Research (NIPER), Directorate General of Foreign Trade (DGFT), Central Drugs Standard Control Organisation (CDSCO), and various state drug control authorities shared insights on regulatory preparedness, quality management systems, and workforce capacity building.
Industry representatives noted the importance of predictable regulatory timelines, harmonisation of standards, and enhanced support for MSMEs to upgrade facilities and adopt best practices.
The Chintan Shivir concluded with an interactive session on the revised GMP framework, reinforcing the government’s commitment to regulatory strengthening, trade facilitation, and close collaboration with industry stakeholders. Officials reiterated that India’s pharmaceutical export strategy would continue to prioritise quality, compliance, innovation, and market diversification.
As global demand for affordable and reliable medicines continues to rise, India’s pharmaceutical sector appears well-positioned to play a central role. The strong export growth recorded in FY 2024-25 not only reflects the sector’s current strength but also signals its potential to emerge as a global life sciences powerhouse in the coming decade.
