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Rajesh Agrawal, Secretary successful the Department of Commerce, said that irrespective of whether targets are met successful dollar terms, exports would amusement maturation successful rupee presumption arsenic the Indian currency continues to weaken against the U.S. dollar
India’s pharmaceutical exports stood astatine implicit $28 cardinal up to February successful the past fiscal year, registering a maturation of much than 5% compared to the aforesaid play past year, a apical authoritative said connected Saturday (April 4, 2026).
K. Raja Bhanu, manager wide of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), said the sector, presently valued astatine astir $60 billion, is projected to turn to $130 cardinal by 2030.
"Despite planetary challenges, pharmaceutical exports person been among the fewer sectors to support maturation momentum. Exports during April–February FY26 stood astatine $28.29 billion, reflecting a maturation of 5.6% compared to the aforesaid play successful FY25, led by formulations, biologicals, vaccines and AYUSH products," helium said, addressing the inaugural league of the 'Chintan Shivir: Scaling Up Pharma Exports'.
Rajesh Agrawal, Secretary successful the Department of Commerce, said that irrespective of whether targets are met successful dollar terms, exports would amusement maturation successful rupee presumption arsenic the Indian currency continues to weaken against the U.S. dollar.
"The people we person acceptable appears hard to meet, but we volition stay connected a affirmative trajectory," Mr. Agrawal said.
Mr. Bhanu added that exports reached $30.47 cardinal successful FY24–25, marking a year-on-year maturation of 9.4% contempt planetary pricing pressures and commercialized volatility.
Pharmexcil president Namit Joshi said India is apt to extremity the existent fiscal twelvemonth astatine levels akin to FY25.
Looking ahead, Bhanu said Pharmexcil aims to execute $65 cardinal successful exports by 2030 done argumentation prioritisation, marketplace diversification beyond accepted geographies, accrued FDI inflows and improved regulatory efficiency.
India ranks 3rd globally successful pharmaceutical accumulation by volume, with exports reaching implicit 200 markets worldwide, helium said.
Notably, much than 60% of India’s pharmaceutical exports are directed towards highly regulated markets, underscoring the industry's prime and compliance standards.
The United States accounts for 34% of exports, followed by Europe astatine 19%, helium added.
Joshi said tariff-related issues successful 2025 led to higher procurement of medicines worthy $1.6 cardinal successful the U.S., supra mean levels, which is expected to interaction FY26 figures.
“That is wherefore we expect to extremity up adjacent to past year’s performance, with immoderate maturation coming from that,” helium said.
He added that nonstop figures would beryllium disposable lone aft the March information is released.
