India’s Pharma Exports Surpass $30 Billion for the First Time

For the first time ever, India’s pharmaceutical exports have crossed the $30 billion mark, reaching a record $30.46 billion in the financial year 2024–25. This represents a 9% increase compared to $27.85 billion in 2023–24.

In March alone, pharma exports jumped 31.21% year-on-year to $3.68 billion. Previously, in January, exports had grown by 21.47% to $2.59 billion, according to data from the Ministry of Commerce. This surge marks a significant milestone for the Indian pharmaceutical industry.

The United States remained the top destination for Indian pharma exports, with the value rising 14.29% to $8.95 billion in the last fiscal year. Other key export markets include the United Kingdom, Brazil, France, and South Africa.

Anticipating the imposition of higher tariffs starting in April, American buyers began placing large orders in advance, which significantly contributed to the surge in exports.