India's Pharma Powerhouse Hits $28B Milestone, Eyes $130B Horizon Amid Global Headwinds

The Slate Bureau

New Delhi: In a testament to its unyielding momentum, India's pharmaceutical exports surged past the $28 billion mark through February of FY26, posting a robust 5.6% rise over the prior year's corresponding period, announced a senior industry leader on Saturday.

K. Raja Bhanu, Director General of Pharmexcil—the Pharmaceuticals Export Promotion Council of India—highlighted the sector's vitality during the kickoff of the 'Chintan Shivir: Scaling Up Pharma Exports' forum. Valued at roughly $60 billion today, the industry is on track to double to $130 billion by 2030, he projected.

“Even as global headwinds batter supply chains, pharma stands tall as one of the rare bright spots," Bhanu noted. Formulations, biologics, vaccines, and AYUSH remedies propelled April-February shipments to $28.29 billion. The full FY25 tally hit $30.47 billion, up 9.4% year-on-year, defying pricing squeezes and trade turbulence.

Pharmexcil Chairman Namit Joshi tempered optimism, forecasting FY26 closure near FY25 levels. "US tariff hikes in 2025 spiked medicine imports there by $1.6 billion beyond norms, likely tempering our numbers—but targeted growth will balance it," he explained. Final tallies await March data.

Bhanu outlined Pharmexcil's bold roadmap to $65 billion by 2030: sharpened policies, fresh marmket frontiers beyond legacy hubs, boosted foreign direct investment, and streamlined regulations. India, the world's third-largest pharma producer by volume, ships to over 200 countries, with 60% targeting stringent markets that affirm its quality prowess. The US claims 34% of outflows, Europe 19%.

(With inputs from PTI)