India’s Pharma Exports Cross $28 Billion Mark by February
India’s pharma exports crossed $28 billion till February, growing over 5% year-on-year, a senior official said.
India’s pharmaceutical exports crossed $28 billion till February in the current financial year, marking a growth of over 5 per cent compared to the same period last year, a senior government official said.
Speaking at the inaugural session of the ‘Chintan Shivir: Scaling Up Pharma Exports’, the official highlighted that the growth was led by formulations, biologicals, vaccines, and Ayush products.
“Despite global challenges, pharmaceutical exports have been among the few sectors to maintain growth momentum,” he said, noting that exports from April to February FY26 stood at $28.29 billion -- reflecting a 5.6 per cent increase over FY25.
Rajesh Agrawal, Secretary in the Department of Commerce, added that even if the set targets in dollar terms are difficult to achieve, export performance would show growth in rupee terms due to the continued weakening of the Indian currency against the US dollar.
The official recalled that India’s pharmaceutical exports had reached $30.47 billion in FY24–25, marking a year-on-year growth of 9.4 per cent despite global pricing pressures and trade volatility.
India ranks third globally in pharmaceutical production by volume, exporting to over 200 markets worldwide.
More than 60 per cent of India’s pharmaceutical exports are directed towards highly regulated markets, underscoring the industry’s strong compliance and quality standards.
The United States accounts for 34 per cent of exports, followed by Europe at 19 per cent.
Meanwhile, an earlier report by Rubix Industry showed that India’s medical devices industry is projected to reach $50.1 billion by 2030 from $15.2 billion in 2025, at a compound annual growth rate of 26.9 per cent.
The report attributed the growth to government initiatives such as the National Medical Devices Policy, Production-Linked Incentive Scheme, Scheme for Promotion of Medical Devices Parks, and MedTech Mitra.
The report noted that medical devices exports reached $4.1 billion in FY25 while imports touched $8.6 billion, leaving 70-80 per cent of domestic demand being met through imports, particularly for technologically advanced devices.
With Inputs From IANS
Dr Bhumika Maikhuri is a Consultant Orthodontist at Sanjeevan Hospital, Delhi. She is also working as a Correspondent and a Medical Writer at Medical Dialogues. She completed her BDS from Dr D Y patil dental college and MDS from Kalinga institute of dental sciences. Apart from dentistry, she has a strong research and scientific writing acumen. At Medical Dialogues, She focusses on medical news, dental news, dental FAQ and medical writing etc.