India’s pharmaceutical exports maintained steady growth momentum in the current financial year, nearing the $29 billion mark by February despite global market volatility and trade uncertainties.
According to data from the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL), exports during April–February FY26 stood at $28.29 billion, registering a 5.6% increase compared to the same period last year. The performance highlights the sector’s resilience at a time when several global industries are facing headwinds.
Officials noted that growth has been driven primarily by high-value segments such as formulations, biologicals and vaccines, along with increasing demand for Ayush products. These segments continue to strengthen India’s position as a leading global supplier of affordable medicines.
The steady performance comes even as the global pharmaceutical market faces pricing pressures, regulatory challenges and geopolitical uncertainties. Despite these factors, India’s export trajectory has remained stable, underlining the sector’s strong fundamentals and diversified demand base.
In the previous financial year (FY25), India’s pharmaceutical exports had reached $30.47 billion, reflecting a 9.4% year-on-year growth. While the pace of expansion has moderated slightly this year, the continued upward trend indicates sustained global demand for Indian medicines.
Industry experts said India’s cost competitiveness, strong manufacturing capabilities and established presence in generic drug markets have played a crucial role in supporting exports. The country continues to supply essential medicines to both developed and developing markets, reinforcing its role in global healthcare supply chains.
Looking ahead, the long-term outlook for the sector remains robust. India’s pharmaceutical industry, currently valued at around $60 billion, is projected to grow significantly and reach nearly $130 billion by 2030. This expansion is expected to be supported by increasing global demand, innovation in biologics and vaccines, and a growing domestic market.
However, challenges remain. Trade policy uncertainties, including tariff-related developments in key markets, and supply chain risks linked to geopolitical tensions could impact future growth. Despite this, the sector’s ability to sustain growth amid adverse conditions signals its structural strength.
Overall, the latest export data reflects a sector that is not only weathering global disruptions but continuing to expand steadily, positioning itself as a critical pillar of India’s export economy.
Kaashika is a social media strategist and financial content creator at Lakshmishree. She specialises in simplifying complex IPO and stock market concepts into clear, easy-to-understand content. Having created over 500+ pieces of financial content across reels, blogs, website posts and digital creatives, Kaashika helps audiences connect with the world of finance in a more accessible and engaging way.
