Daijiworld Media Network - New Delhi
New Delhi, Dec 17: India’s pharmaceutical exports reached $30.47 billion in 2024–25, marking a robust 9.4 per cent increase over the previous year, Commerce Secretary Rajesh Agrawal said on Wednesday, underlining the sector’s growing global footprint and manufacturing strength.
Speaking at the inauguration of a one-day Regional Chintan Shivir on Pharmaceutical Exports, Agrawal noted that India’s domestic pharma market is currently valued at around $60 billion and is projected to more than double to nearly $130 billion by 2030. He said this trajectory reflects the industry’s scale, technological capability and capacity for innovation.
India has emerged as the world’s third-largest pharmaceutical producer by volume and the 14th largest by value, supported by over 3,000 companies, around 10,500 manufacturing facilities and more than 60,000 generic brands spanning 60 therapeutic segments. Indian medicines are supplied to over 200 countries, with more than 60 per cent of exports heading to markets with strict regulatory standards. The United States alone accounts for about 34 per cent of exports, while Europe contributes nearly 19 per cent.
Officials highlighted that India’s reputation as a dependable supplier of affordable, quality-assured medicines provides a solid base for further export growth. The discussions at the Chintan Shivir focused on preparing exporters—particularly micro, small and medium enterprises—to navigate evolving global trade frameworks and regulatory environments.
Key deliberations included addressing non-tariff barriers, resolving regulatory bottlenecks, expanding mutual recognition and regulatory cooperation to speed up approvals, and strengthening the life sciences ecosystem. Emphasis was also placed on boosting research and development, clinical trials, biologics, vaccines and biosimilars to enhance India’s competitiveness.
Agrawal reiterated Prime Minister Narendra Modi’s vision of positioning India as a trusted global trade partner and increasing the country’s share in the international pharmaceutical market to improve access to affordable healthcare worldwide.
Participants were also briefed on recent trade developments, including the India–UK Comprehensive Economic and Trade Agreement signed in July 2025 and the India–European Free Trade Association Trade and Economic Partnership Agreement, which came into force in October 2025, both of which are expected to open new avenues for pharmaceutical exports.