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India Pharma Exports Hit $28B, Growth Led by Vaccines & Biologics

India's pharmaceutical exports grew 5.6% to reach $28.29 billion for the period from April to February in the current financial year. The growth was driven by formulations, biologicals, vaccines, and Ayush products, with over 60% of exports destined for highly regulated markets. The United States remains the largest single market, accounting for 34% of total exports. Separately, a report projects India's medical devices industry will grow rapidly to $50.1 billion by 2030, though the sector currently relies heavily on imports for advanced technology.

Key Points: India Pharma Exports Surpass $28 Billion, Grow 5.6%

  • Exports hit $28.29B Apr-Feb FY26
  • 5.6% growth led by formulations & biologics
  • Over 60% exports to regulated markets
  • US is top market with 34% share
  • Medical devices sector poised for rapid growth
2 min read

India's pharmaceutical exports exceed $28 billion up to February

India's pharmaceutical exports reach $28.29B, growing 5.6% led by formulations & biologics. Over 60% go to regulated markets like the US & Europe.

"Despite global challenges, pharmaceutical exports have been among the few sectors to maintain growth momentum. - Government Official"

New Delhi, April 5

India's pharmaceutical exports reached over $28 billion up to February in the current financial year, registering a growth of more than 5 per cent compared to the same period last year, a senior government official has said.

Speaking at the inaugural session of the 'Chintan Shivir: Scaling Up Pharma Exports', the official highlighted that the growth was led by formulations, biologicals, vaccines, and Ayush products.

"Despite global challenges, pharmaceutical exports have been among the few sectors to maintain growth momentum," he said, noting that exports from April to February FY26 stood at $28.29 billion -- reflecting a 5.6 per cent increase over FY25.

Rajesh Agrawal, Secretary in the Department of Commerce, added that even if the set targets in dollar terms are difficult to achieve, export performance would show growth in rupee terms due to the continued weakening of the Indian currency against the US dollar.

The official recalled that India's pharmaceutical exports had reached $30.47 billion in FY24-25, marking a year-on-year growth of 9.4 per cent despite global pricing pressures and trade volatility.

India ranks third globally in pharmaceutical production by volume, exporting to over 200 markets worldwide.

More than 60 per cent of India's pharmaceutical exports are directed towards highly regulated markets, underscoring the industry's strong compliance and quality standards.

The United States accounts for 34 per cent of exports, followed by Europe at 19 per cent.

Meanwhile, an earlier report by Rubix Industry showed that India's medical devices industry is projected to reach $50.1 billion by 2030 from $15.2 billion in 2025, at a compound annual growth rate of 26.9 per cent.

The report attributed the growth to government initiatives such as the National Medical Devices Policy, Production‑Linked Incentive Scheme, Scheme for Promotion of Medical Devices Parks, and MedTech Mitra.

The report noted that medical devices exports reached $4.1 billion in FY25 while imports touched $8.6 billion, leaving 70-80 percent of domestic demand being met through imports, particularly for technologically advanced devices.

- IANS

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Reader Comments

R
Rajesh Q
Good growth, but the rupee weakening against the dollar is a double-edged sword. It helps exports in rupee terms, but it also makes importing raw materials more expensive. We need to focus on becoming more self-reliant in API production to sustain this growth long-term.
A
Aman W
The medical devices part is concerning. Exports $4.1B, imports $8.6B? We are still so dependent on imports for advanced devices. The PLI schemes are good, but we need faster execution. Can't just celebrate pharma and ignore this huge trade gap in med-tech.
S
Sarah B
As someone working in the healthcare sector, I see this growth firsthand. Indian generics and vaccines are lifesavers for millions in developing countries. The inclusion of Ayush products is also interesting – shows traditional medicine gaining global acceptance.
V
Vikram M
World's pharmacy delivers again! 💊 But we must not get complacent. The report mentions global pricing pressures. We need continuous innovation, not just volume production, to move up the value chain. More investment in R&D is crucial.
K
Kriti O
This is positive, but I hope this export success translates to more affordable medicines for our own people. Sometimes there's a tension between serving global markets and domestic needs. The government should ensure price control mechanisms work effectively at home.

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