In a remarkable milestone, India’s pharmaceutical exports exceeded $30 billion during the financial year FY25, with the US remaining a crucial market, accounting for over one-third of the total exports. Official trade data reveals that the pharma exports reached $30.47 billion, marking a 9% growth compared to $27.85 billion in FY24.
In March, exports surged by over 30% year-on-year, reaching $3.68 billion, compared to $2.81 billion in the same month the previous fiscal. Notably, exports to the US grew by 14.29%, totaling $8.95 billion in FY25. Beyond the United States, India’s leading destinations for pharmaceutical exports were the United Kingdom, Brazil, France, and South Africa. A recent report projected an 8-9% year-on-year growth for the domestic pharmaceutical market in FY26. India Ratings and Research (Ind-Ra) has forecasted a 7.5-8% growth for FY25, up from 6.5% in FY24, indicating an overall improvement in the sector’s performance.
The report further highlights that February witnessed a 7.5% year-on-year revenue growth in the pharma sector. The sector’s growth was largely fuelled by a 5.2% price increase and a 2.4% boost from new product launches, even as volume growth dipped slightly by 0.2%.
India’s pharmaceutical industry has maintained consistent momentum, registering an 8% compound annual growth rate (CAGR) along with a 9% surge in exports in 2024. India has reinforced its status as the world’s leading supplier of generic medicines, with export growth nearly double the global average, as stated in a McKinsey & Company report.
India’s pharmaceutical sector continues to grow at a robust pace, further solidifying its role as a global leader in the pharmaceutical market.
