India’s pharma exports have surpassed $28 billion up to February in the financial year 2026, marking a growth of 5.6% compared to the same period last year. This achievement was announced by K. Raja Bhanu, the director general of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), during the ‘Chintan Shivir: Scaling Up Pharma Exports’ event on April 4, 2026.
The sector, currently valued at approximately $60 billion, is projected to grow to $130 billion by 2030. Bhanu emphasized the resilience of the pharmaceutical sector, which has maintained growth momentum despite global challenges. The growth was primarily led by exports of formulations, biologicals, vaccines, and AYUSH products.
Rajesh Agrawal, Secretary in the Department of Commerce, highlighted that while meeting targets in dollar terms remains challenging, exports will show growth in rupee terms due to the weakening of the Indian currency against the U.S. dollar. Agrawal expressed optimism about maintaining a positive trajectory.
In the previous fiscal year, exports reached $30.47 billion, with a year-on-year growth of 9.4%, overcoming global pricing pressures and trade volatility. Looking ahead, Pharmexcil aims to achieve $65 billion in exports by 2030 through policy prioritization, market diversification, increased FDI inflows, and improved regulatory efficiency.
India ranks third globally in pharmaceutical production by volume, exporting to over 200 markets worldwide. More than 60% of these exports are directed towards highly regulated markets, underscoring the industry’s commitment to quality and compliance. The United States and Europe are significant markets, accounting for 34% and 19% of exports, respectively.
Published in SouthAsianDesk, April 5, 2026
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