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Commerce Secretary Rajesh Agrawal stated exports in rupee phrases will improve no matter whether or not the goal is achieved in greenback phrases because the Indian forex continues to depreciate in opposition to the US greenback.
India’s pharmaceutical exports reached over $28 billion until February of the final monetary yr, registering a year-on-year development of over 5%, a senior authorities official stated on Saturday (April 4, 2026).
The sector, at present valued at round $60 billion, is projected to develop to $130 billion by 2030, stated Ok. Raja Bhanu, govt director of the Pharmaceutical Export Promotion Council of India (Pharmexcil).
“Regardless of world challenges, pharmaceutical exports are one of many few sectors that has maintained development momentum. Exports in April-February FY26 had been $28.29 billion, reflecting a development of 5.6 per cent over the identical interval in FY25, led by prescription drugs, biologics, vaccines and AYUSH merchandise,” he stated on the inaugural session of ‘Chintan Civil: Rising Pharmaceutical Exports’.
Rajesh Agrawal, Secretary of the Ministry of Commerce, stated that because the Indian forex continues to weaken in opposition to the US greenback, exports in rupee phrases will improve no matter whether or not the goal is achieved in greenback phrases.
“Though it appears troublesome to realize the targets we have now set, we stay on a optimistic trajectory,” Agrawal stated.
Banu added that exports reached $30.47 billion in FY24-25, registering a year-on-year development of 9.4 per cent regardless of world worth pressures and commerce fluctuations.
Pharmexcil Chairman Namit Joshi stated India is prone to finish the present fiscal yr at ranges just like FY25.
Trying forward, Mr. Bhanu stated Farmexcel goals to realize $65 billion in exports by 2030 via coverage prioritization, market diversification past conventional geographies, elevated FDI inflows and improved regulatory effectivity.
He stated India ranks third on the planet in pharmaceutical manufacturing and exports attain greater than 200 markets worldwide.
Notably, greater than 60% of India’s pharmaceutical exports go to extremely regulated markets, highlighting the trade’s high quality and compliance requirements.
The USA accounted for 34% of exports, adopted by Europe with 19%, he added.
Joshi stated tariff-related points in 2025 will end in a rise in drug procurement price $1.6 billion above regular ranges within the US, which is predicted to affect FY26 numbers.
“So we count on to finish up near final yr’s efficiency and see some development from there,” he stated.
He added that actual numbers will solely be obtainable as soon as March knowledge is launched.
