India’s pharmaceutical exports rose to $30.47 billion in FY 2024–25, registering a 9.4 per cent year-on-year growth, and are on course to outperform last year’s figures in the current financial year, the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL) said on Monday.
Briefing Commerce Secretary Rajesh Agrawal, PHARMEXCIL highlighted India’s standing as the third-largest pharmaceutical producer globally by volume and a key supplier of affordable, quality-assured medicines to more than 150 countries, underscoring strong prospects for sustained export-led growth.
The PHARMEXCIL leadership held a series of high-level meetings with senior Central government officials to discuss strategic priorities, policy alignment and opportunities to strengthen pharmaceutical exports. In a separate interaction with Manoj Joshi, Secretary, Department of Pharmaceuticals, the council outlined the sector’s performance and growth trajectory.
India’s domestic pharmaceutical market, currently estimated at around $60 billion, is projected to expand to $130 billion by 2030, PHARMEXCIL said.
Discussions with Satya Prakash L., Joint Secretary, Department of Pharmaceuticals, focused on enhancing industry–academia collaboration across clinical trials, biopharmaceuticals, vaccines and active pharmaceutical ingredients (APIs), with emphasis on innovation, skill development and capacity building.
The delegation also met Director General of Foreign Trade Lav Aggarwal to apprise him of PHARMEXCIL’s initiatives and to seek continued support for programmes such as Chintan Shivir and iPHEX 2026.
Commenting on the engagements, PHARMEXCIL Chairman Namit Joshi said India’s pharmaceutical sector is at a “pivotal inflection point”, supported by strong export momentum, a fast-growing domestic market and consistent government backing. Nipun Jain, Chairman of the PHARMEXCIL MSME Committee and iPHEX 2026, added that platforms like Chintan Shivir and iPHEX are vital enablers for MSMEs, helping improve market access while driving quality, innovation and global competitiveness.
