India’s Pharma Exports Set for Major Growth: Key Insights from Industry Forum
An Industry Interaction focused on the theme “Scaling up Pharma Exports” recently took place as part of the Chintan Shivir series. This initiative, guided by Prime Minister Shri Narendra Modi, emphasizes the government’s commitment to enhancing India’s export capabilities through closer synergy with industry leaders and regulatory bodies.
India’s pharmaceutical exports showcased remarkable growth, reaching USD 30.47 billion in FY 2024–25. This marks a significant 9.4% increase from the previous year. Currently valued at approximately USD 60 billion, the sector is anticipated to expand to USD 130 billion by 2030. India stands as the third-largest global exporter by volume, supplying medicines to over 200 markets, with more than 60% of these exports aimed at strictly regulated markets. The United States and Europe account for 34% and 19% of India’s pharmaceutical exports, respectively. During the interaction, the government underscored its strategy to foster an environment conducive to ongoing export growth, with industry representatives expressing their goal of achieving double-digit growth by 2026–27.
Government Commitment to Pharma Sector
The program featured a video message from the Commerce Secretary, who stressed the need for ongoing dialogue with exporters and manufacturers. The message highlighted the Prime Minister’s focus on bolstering India’s reputation as a reliable trade partner, while ensuring that affordable, high-quality medicines continue to be accessible worldwide.
This session included participation from various government bodies, such as the Department of Commerce and the Directorate General of Foreign Trade. Key discussions revolved around regulatory processes, export facilitation, and the need for alignment between policy initiatives and the forthcoming growth phase of the sector, especially for Micro, Small, and Medium Enterprises (MSMEs) facing numerous compliance challenges.
Innovative Initiatives to Boost Exports
Attention was drawn to the Union Budget for 2026–27, which positions biopharma and biologics as central to future healthcare and manufacturing strategies. The proposed Biopharma SHAKTI initiative, with a budget of ₹10,000 crore over five years, aims to fortify India’s comprehensive ecosystem for biologics and biosimilars, reduce reliance on imports, and enhance competitiveness in global supply chains, targeting a 5% share of the global biopharmaceutical market.
The initiative discussion also included plans to establish three new National Institutes of Pharmaceutical Education and Research (NIPERs), upgrade seven existing institutions, and enhance CDSCO capabilities by attracting specialized scientific personnel to expedite complex product evaluations and bolster regulatory confidence.
Focused Discussions on Export Strategies
Panels and sessions discussed the entire export journey, from manufacturing discipline to market acceptance. Innovative discussions, titled “Scaling Excellence through Entrepreneurial Journey” and “Scale Up Mantra for Emerging Companies,” shed light on strategies for advancing pharmaceutical exports over the next decade. Participants shared experiences on improving quality systems, ensuring compliance, and enhancing value while maintaining reliable pricing and supply.
Exporters were made aware of opportunities stemming from recent trade discussions with major partners like the European Union and the United States, which promised clearer access pathways to large, regulated markets. The EU, with a pharmaceuticals and medical devices market valued at USD 572.3 billion, and a potential bilateral trade arrangement with the United States could significantly improve competitiveness for Indian pharmaceutical companies.
Approximately 200 exporters, primarily from India’s western region, engaged in the program, which also included insights from the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL) and the upcoming 12th International Exhibition on Pharma and Healthcare Industry (iPHEX).
With a focus on public and exporter priorities, the discussions tackled the need for expediting approvals, enhancing regulatory cooperation, and transitioning from volume-driven exports to high-value products like biologics and biosimilars. The Department of Commerce is committed to maintaining dialogue with exporters and global regulators to promptly address challenges, ensuring continual growth for India’s pharmaceutical exports on the world stage.
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