India’s pharmaceutical exports increased 4.90 per cent year-on-year to USD 16.14 billion during April–September 2026, compared with USD 15.38 billion in the corresponding period of the previous financial year, supported by growth across key product categories and expanding demand in international markets.
According to the Pharmaceuticals Export Promotion Council of India (Pharmexcil), exports during the second quarter of FY27 rose 3.05 per cent year-on-year to USD 8.04 billion from USD 7.80 billion in July–September 2025. September recorded the highest monthly export value of the quarter at USD 2.74 billion, marking a 4.68 per cent increase over the same month last year.
Europe Leads Export Growth
Europe emerged as a major growth driver, with Indian pharmaceutical exports to the region rising 9.66 per cent to USD 3.29 billion during the first half of FY27. The region accounted for 20.38 per cent of India’s total pharmaceutical exports during the period.
Among key European markets, exports to Germany increased 21.57 per cent, followed by the Netherlands at 15.93 per cent and France at 15.02 per cent.
Geographical diversification also supported overall export performance, helping offset moderating shipments to the United States. Exports to ASEAN grew 21.54 per cent, while shipments to Latin America and the Caribbean rose 16.58 per cent. Exports to Africa increased 6.48 per cent.
Bulk Drugs and Intermediates Record Double-Digit Growth
Across product categories, drug formulations and biologicals remained the largest segment, accounting for 73.84 per cent of total pharmaceutical exports and registering growth of 3.81 per cent during the six-month period.
Bulk drugs and drug intermediates recorded stronger growth of 12.07 per cent, while surgical products exports increased 9.53 per cent, reflecting the breadth of India’s pharmaceutical manufacturing capabilities.
Namit Joshi, Chairman of Pharmexcil, said the industry must increasingly focus on innovation and higher-value segments to sustain its global growth.
He highlighted the need for greater investment in research and development, technology transfer and the co-development of complex generics, biosimilars and specialised therapies. Joshi also identified Europe as a promising market for collaboration, given its strong research and innovation ecosystem.
He said combining India’s manufacturing and formulation expertise with international technological capabilities could help domestic companies move beyond supplying medicines and participate more actively in pharmaceutical innovation.
Focus on Quality and Global Market Access
Bhavin Mehta, Vice Chairman of Pharmexcil, said double-digit growth in bulk drugs and drug intermediates demonstrated the strength of India’s manufacturing base. He added that expanding exports across Europe, ASEAN, Latin America and Africa offered opportunities for companies throughout the pharmaceutical value chain.
Mehta emphasised that continued investment in quality systems, advanced manufacturing and regulatory preparedness would be essential to expanding the global presence of Indian exporters, including micro, small and medium enterprises (MSMEs).
Pharmexcil said it would continue working with the Government of India, regulatory authorities and industry stakeholders to improve market access, strengthen compliance frameworks and promote innovation-led manufacturing.
The first-half performance underscores the resilience of India’s pharmaceutical export sector, with diversified markets and growth in higher-value product categories providing opportunities to strengthen the country’s position in global pharmaceutical trade.