Pharma Exports Reached USD 30.47 Billion in 2024–25: Commerce Secretary

New Delhi, Dec 18 (KNN) India’s pharmaceutical exports reached USD 30.47 billion in 2024–25, recording a year-on-year growth of 9.4 per cent, supported by a strong manufacturing base and expanding global market presence. 

Commerce Secretary Rajesh Agrawal shared the figures while inaugurating a one-day Regional Chintan Shivir on Pharmaceutical Exports through a video address in Chandigarh.

The event was organised by the Department of Commerce in collaboration with the Pharmaceutical Export Promotion Council of India (PHARMEXCIL) and brought together policymakers, regulators, exporters, including MSMEs, Indian missions abroad, and technical experts to discuss issues influencing India’s pharmaceutical export landscape. 

The Commerce Secretary noted that India’s domestic pharmaceutical market is currently estimated at around USD 60 billion and is projected to grow to approximately USD 130 billion by 2030.

Highlighting India’s production capabilities, Agrawal stated that India is the world’s third-largest pharmaceutical producer by volume and fourteenth by value, with over 3,000 companies, 10,500 manufacturing units, and more than 60,000 generic brands spanning 60 therapeutic categories. 

Indian pharmaceutical products are exported to over 200 countries, with more than 60 per cent of exports directed to highly regulated markets. The United States accounts for about 34 per cent of exports, while Europe contributes around 19 per cent.

Discussions during the Chintan Shivir focused on enhancing exporter awareness of India’s evolving international trade framework, particularly for MSMEs, addressing non-tariff barriers, and strengthening regulatory cooperation mechanisms to facilitate faster approvals. 

Deliberations also covered the development of a robust life sciences ecosystem, including research and development, clinical trials, biologics, vaccines, and biosimilars.

Participants were briefed on recent trade agreements, including the India–UK Comprehensive Economic and Trade Agreement (CETA) signed in July 2025 and the India–European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA), which came into effect in October 2025. 

The potential benefits of zero-tariff provisions, investment inflows, and employment generation were highlighted, along with emerging collaboration opportunities with Switzerland in biotechnology and pharmaceutical innovation.

The technical sessions covered antimicrobial resistance, skilled manpower development, updates to the Foreign Trade Policy, GST changes, and revised GMP implementation, with experts discussing regulatory preparedness, quality systems, workforce development, and digital compliance. 

PHARMEXCIL highlighted export promotion efforts, including the iPHEX 2026 exhibition, while the Chintan Shivir concluded with a focus on strengthening GMP norms, trade facilitation, and sustained government–industry engagement to boost pharmaceutical exports.

(KNN Bureau)