Indian Pharma Exports Jump 9.4% to Hit Record $30.47 Billion in 2024–25
India has further solidified its status as the “Pharmacy of the World” as pharmaceutical exports soared to a record-breaking $30.47 billion in the 2024–25 fiscal year. Commerce Secretary Rajesh Agrawal confirmed a robust 9.4% growth, driven by high demand for affordable generic medicines and a shift toward high-value innovation.
Global Reach and Market Share
India currently ranks 3rd globally in volume and 14th in value. The export data reveals that Indian medicines are reaching over 200 markets, with a high concentration in “quality-conscious” western nations:
- United States: Accounts for 34% of total exports (growing 14% YoY).
- Europe: Contributes 19% to the total export value.
- Emerging Markets: Significant surges in the UK, Brazil, and South Africa.
Strategic Economic Drivers
The 2024–25 boom is supported by several government and international trade catalysts:
- Trade Agreements: The India-UK CETA (signed July 2025) and the India-EFTA pact have introduced zero-tariff provisions for Indian generics.
- PLI Schemes: Production Linked Incentive schemes have boosted the manufacturing of APIs and complex biosimilars.
- Digital Integration: The rise of Global Capability Centers (GCCs) in India is turning the nation into an R&D powerhouse.
The 2030 Vision: A $130 Billion Market
With the domestic market currently at $60 billion, the Ministry of Commerce projects the sector will double to $130 billion by 2030. The focus is shifting from “volume to value,” with Indian firms increasingly investing in CAR-T therapy, mRNA technology, and specialty generics.
