New Delhi. India has once again established its strong presence in the global pharmaceutical industry. The world already recognizes India as the “Pharmacy of the World”, and the latest figures further strengthen this recognition. According to recent data released by the government, the country’s pharmaceutical exports have increased by 9.4 percent to reach $30.47 billion in the financial year 2024-25. This growth is not only a testament to the export potential but also reflects the credibility and competitiveness of Indian medicines in the global market.
Strength in exports, target double digit growth
The Ministry of Commerce and Industry shared this information during the ‘Chintan Shivir’ organized in Ahmedabad that the industry is working towards achieving double digit growth by the year 2026-27. In this meeting, there was an in-depth discussion on export related issues between government officials and pharma companies.
India is currently the third largest drug producing country in the world in terms of volume. This industry, worth about $60 billion, has the potential to reach $130 billion by 2030. Medicines are exported from the country to more than 200 countries, of which more than 60 percent are destined for markets with strict regulatory standards.
Strong hold in America and Europe
The United States accounts for about 34 percent of Indian pharmaceutical exports and the European Union accounts for about 19 percent. This shows that India’s medicines meet the world’s most stringent quality standards. The government believes that a potential bilateral trade arrangement with the US could further improve market access and price competitiveness for Indian companies. At the same time, there are huge opportunities for India in the European Union’s $572.3 billion pharmaceutical and medical device market.
What is the direction of the future?
India’s strength lies in its affordable production capacity, strong generic pharmaceutical industry and high quality standards. If the coordination between the government and the industry continues like this, in the coming years India will not only create new records in exports but will also further strengthen its role in the global health sector. It is clear that India’s pharmaceutical sector is playing an important role not only from the economic point of view but also from the point of view of global health security. In the times to come, this sector will continue to provide new momentum to the country’s economy as well as ensure availability of affordable and quality medicines across the world.
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