India's Pharmaceutical Exports Soar Amid Global Challenges

India's pharmaceutical exports surpassed USD 28 billion by February in the last financial year, marking more than 5% growth over the previous year. The Pharmaceuticals Export Promotion Council of India (Pharmexcil) Director General, K Raja Bhanu, highlighted this significant achievement during the 'Chintan Shivir: Scaling Up Pharma Exports' session.

Despite global pricing pressures and trade volatility, the sector experienced a 9.4% yearly growth, reaching USD 30.47 billion in FY2024-25. Pharmexcil Chairman Namit Joshi noted that while targets in dollar terms appear challenging due to a weakening Indian currency, growth in rupee terms remains positive, thanks to high-value markets like the US and Europe.

The sector aims for USD 65 billion in exports by 2030 through policy prioritization, market diversification beyond traditional geographies, increased FDI inflows, and regulatory efficiency. Over 60% of India's pharmaceutical exports are directed towards highly regulated markets, underscoring the industry's adherence to stringent quality and compliance standards.