India’s pharmaceutical exports reached $30.47 billion in FY 2024–25, registering a year-on-year growth of 9.4 per cent, and are on track to surpass last year’s performance in the current financial year, the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL) informed Commerce Secretary Rajesh Agrawal on Monday.
PHARMEXCIL highlighted that India is the world’s third-largest pharmaceutical producer by volume and a trusted supplier of affordable, quality-assured medicines to more than 150 countries,a underscoring the sector’s potential for sustained export-led growth.
According to a statement issued by the trade body, PHARMEXCIL’s leadership held a series of high-level meetings with senior Central government officials to discuss strategic priorities, policy alignment, and growth opportunities aimed at strengthening pharmaceutical exports.
In a separate meeting with Secretary, Department of Pharmaceuticals, Manoj Joshi, PHARMEXCIL presented the performance and growth trajectory of the sector. The trade body noted that India’s domestic pharmaceutical market, currently valued at around $60 billion, is projected to expand to $130 billion by 2030.
Discussions with Joint Secretary, Department of Pharmaceuticals, Satya Prakash L., focused on enhancing industry–academia collaboration across areas such as clinical trials, biopharmaceuticals, vaccines, and active pharmaceutical ingredients (APIs), with an emphasis on innovation, skill development, and capacity building.
The PHARMEXCIL delegation also met Director General of Foreign Trade Lav Aggarwal to brief him on key initiatives and to seek continued support for programmes such as Chintan Shivir and iPHEX 2026.
Commenting on the engagements, PHARMEXCIL Chairman Namit Joshi said, “India’s pharmaceutical sector stands at a pivotal inflection point. With strong export momentum, a rapidly expanding domestic market, and consistent government support, we are well-positioned to scale our global footprint while reinforcing India’s reputation as a trusted pharmacy of the world.”
iPHEX 2026 and PHARMEXCIL MSME Committee Chairman Nipun Jain said that platforms such as Chintan Shivir and iPHEX are vital enablers for MSMEs and exporters, as they facilitate market access and encourage dialogue on quality, innovation, and global competitiveness.
— IANS
