India's Pharma Exports Surge Amid Global Challenges

India's pharmaceutical exports have surged to over USD 28 billion up to February of the current financial year, marked by a 5% growth compared to the previous year. Despite global challenges, the sector's growth has been steady.

According to K Raja Bhanu from Pharmexcil, the pharmaceutical export sector is valued at around USD 60 billion and is anticipated to grow to USD 130 billion by 2030. He emphasized that the robustness of this sector is fueled by formulations, biologicals, vaccines, and AYUSH products.

The United States is a significant market for India's pharma exports, accounting for 34%, followed by Europe with 19%. The increase in exports is projected to persist, with Pharmexcil aiming for USD 65 billion in exports by 2030, backed by policy support, market expansion, and enhancing regulatory processes.