India's Pharmaceutical Exports Surpass $28 Billion by February

Key Takeaways

India's pharmaceutical exports surpassed $28 billion by February.

Growth attributed to formulations, biologicals, vaccines, and Ayush products.

Exports from April to February FY26 reached $28.29 billion .

India ranks third globally in pharmaceutical production.

Over 60 percent of exports go to highly regulated markets.

New Delhi, April 5 (NationPress) India's pharmaceutical exports have surpassed $28 billion as of February in this financial year, demonstrating an impressive growth of over 5 percent compared to the same timeframe last year, according to a senior government official.

During the opening session of the 'Chintan Shivir: Scaling Up Pharma Exports', the official pointed out that this growth is primarily driven by formulations, biologicals, vaccines, and Ayush products.

“In spite of global challenges, the pharmaceutical sector remains one of the few to sustain its growth trajectory,” he noted, revealing that exports from April to February FY26 totaled $28.29 billion, marking a 5.6 percent increase over FY25.

Rajesh Agrawal, Secretary of the Department of Commerce, mentioned that although achieving dollar targets may be challenging, the export performance will reflect growth in rupee terms due to the persistent depreciation of the Indian currency against the US dollar.

The official reminded attendees that India's pharmaceutical exports had reached $30.47 billion in FY24–25, showcasing a year-on-year growth of 9.4 percent despite global pricing pressures and trade uncertainties.

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

More than 60 percent of India's pharmaceutical exports are aimed at highly regulated markets, highlighting the industry's robust compliance and quality standards.

The United States comprises 34 percent of these exports, followed by Europe at 19 percent.

Additionally, a previous report by Rubix Industry projected that India's medical devices industry will escalate to $50.1 billion by 2030, up from $15.2 billion in 2025, with a compound annual growth rate of 26.9 percent.

This growth was attributed to government initiatives like the National Medical Devices Policy, Production-Linked Incentive Scheme, Scheme for Promotion of Medical Devices Parks, and MedTech Mitra.

The report indicated that medical device exports reached $4.1 billion in FY25, while imports amounted to $8.6 billion, indicating that 70-80 percent of domestic demand is fulfilled through imports, especially for advanced technological devices.

Point of View

India's pharmaceutical exports are a vital indicator of economic health, showcasing the industry's resilience and ability to adapt. As the country remains a prominent player in the global market, continued growth in this sector will likely have positive implications for both local and international stakeholders.

NationPress

17 Jul 2026

Frequently Asked Questions

What is the value of India's pharmaceutical exports as of February?

India's pharmaceutical exports have exceeded $28 billion up to February this financial year.

What factors contributed to the growth of pharmaceutical exports?

The growth was primarily driven by formulations, biologicals, vaccines, and Ayush products.

How does India's pharmaceutical export performance compare to previous years?

The current performance reflects a growth of over 5 percent compared to the same period last year.

Which markets are significant for India's pharmaceutical exports?

More than 60 percent of India's pharmaceutical exports are directed towards highly regulated markets, with the United States and Europe being major destinations.

What is the future outlook for India's medical devices industry?

India's medical devices industry is projected to reach $50.1 billion by 2030, showing significant growth potential.