Hyderabad, Apr 4 (PTI) India’s pharmaceutical exports stood at over USD 28 billion up to February of the current financial year, registering a growth of more than 5 per cent compared to the same period last year, a top official said on Saturday.

K Raja Bhanu, Director General of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), said the sector, currently valued at around USD 60 billion, is projected to grow to USD 130 billion by 2030.

“Despite global challenges, pharmaceutical exports have been among the few sectors to maintain growth momentum. Exports during April–February FY26 stood at USD 28.29 billion, reflecting a growth of 5.6 per cent compared to the same period in FY25, led by formulations, biologicals, vaccines and AYUSH products,” he said, addressing the inaugural session of the 'Chintan Shivir: Scaling Up Pharma Exports'.

Bhanu added that exports reached USD 30.47 billion in FY2024–25, marking a year-on-year growth of 9.4 per cent despite global pricing pressures and trade volatility.

Pharmexcil Chairman Namit Joshi said India is likely to end the current financial year at levels similar to FY25.

Looking ahead, Bhanu said Pharmexcil aims to achieve USD 65 billion in exports by 2030 through policy prioritisation, market diversification beyond traditional geographies, increased FDI inflows and improved regulatory efficiency.

India ranks third globally in pharmaceutical production by volume, with exports reaching over 200 markets worldwide, he said.

Notably, more than 60 per cent of India’s pharmaceutical exports are directed towards highly regulated markets, underscoring the industry's quality and compliance standards.

The United States accounts for 34 per cent of exports, followed by Europe at 19 per cent, he added.

Joshi said tariff-related issues in 2025 led to higher procurement of medicines worth USD 1.6 billion in the US, above normal levels, which is expected to impact FY26 figures.

“That is why we expect to end up close to last year’s performance, with some growth coming from that,” he said.

He added that exact figures would be available only after the March data is released. PTI GDK SSK

Pharmaceutical exports growth reflects strong global demand, diversified markets and compliance-led expansion despite pricing pressures. India's pharmaceutical exports continued to expand despite global pricing pressure and trade volatility, with outbound shipments reaching over USD 28 billion up to February of the current financial year and recording growth of 5.6 per cent over the corresponding period in the previous year. Export growth was led by formulations, biologicals, vaccines and AYUSH products, while the sector's total export performance in the preceding financial year also showed strong year-on-year growth. Pharmexcil indicated that export expansion would depend on policy prioritisation, market diversification, increased foreign direct investment inflows and improved regulatory efficiency, with a medium-term export target of USD 65 billion by 2030.