India's Pharmaceutical Exports on the Rise: Aiming for Double-Digit Growth

India's pharmaceutical exports saw a substantial rise of 9.4% in the fiscal year 2024-25, reaching a total of USD 30.47 billion, as reported by the commerce ministry on Saturday. The industry is setting its sights on achieving double-digit growth by the 2026-27 financial year.

The ambitious projections were a highlight during discussions between government officials and industry leaders at the Chintan Shivir in Ahmedabad. The current valuation of the sector stands at approximately USD 60 billion, with expectations to grow to USD 130 billion by 2030.

India ranks third globally in terms of volume, with over 200 export markets, dominated by stringent regulatory markets. Particular emphasis is on the US and Europe, which account for 34% and 19% of exports, respectively. The government aims to continue facilitating export growth through engagements with key trade partners like the European Union and the United States.