The commerce ministry has said that the India’s pharmaceutical exports continued to show steady growth in the 2024-25 fiscal year, surging 9.4 percent to $30.47 billion over the previous year. It said the industry is aiming for a double-digit growth in FY27. It noted that the sector, currently valued around $60 billion, is projected to reach $130 billion by 2030 with strong government support. 

According to the ministry, India currently ranks third globally in pharmaceutical production by volume, with medicines exported to over 200 markets, and more than 60 per cent of exports destined for stringent regulatory markets. The United States (US) accounts for 34 per cent of India's pharmaceutical exports, while Europe contributes 19 per cent. 

The ministry said issues pertaining to pharmaceuticals exports were discussed between the government officials and industry during Chintan Shivir in Ahmedabad. It noted that the interaction underlined the government's focus on enabling conditions for sustained export acceleration, with industry indicating readiness to target double-digit growth in 2026-27. It said engagement with the European Union was discussed in the context of a $572.3 billion pharmaceuticals and medical devices market, while a bilateral trade arrangement with the US can further improve market access and price competitiveness for Indian pharmaceutical companies. The ministry added that it will continue engagement with exporters, regulators and Indian Missions abroad to ensure timely identification and resolution of issues, thereby supporting sustained growth in pharmaceutical exports in global markets.