In a significant achievement, the pharmaceutical exports from India crossed $30 billion in the last financial year (FY25), with the US remaining as a key market with more than one-third of the country's pharma exports.
According to official trade data, the pharmaceutical exports reached $30,467.32 million in FY25, more than 9 per cent increase than $27,851.70 million in FY24.
In the month of March, the pharma exports registered more than 30 per cent surge (year-on-year) to $3,681.51 million, from $2,805.71 million in the same month last fiscal, according to data.
The exports to the US (in value terms) increased 14.29 per cent at $8,953.37 million in FY25. Other countries on top of India's pharma exports were the UK, Brazil, France and South Africa last fiscal.
Meanwhile, a report said last month that domestic pharmaceuticals market is expected to grow 8-9 per cent year-on-year in FY26. The report by India Ratings and Research (Ind-Ra) said the growth in the sector will be at 7.5-8.0 per cent year on year for FY25.
This is "against 6.5 per cent year-on-year in FY24 and 9.9 per cent YoY growth in FY23," said Krishnanath Munde, associate director at .
In February, the pharma market delivered revenue of 7.5 per cent year on year. This growth was driven by growth in price (5.2 per cent YoY) and new launches (2.4 per cent YoY), while volume growth continued to remain muted at negative 0.2 per cent YoY, the report said.
The sector reported growth at an average of 7.3 per cent year-to-date (YTD) in FY25. This was led by price growth (5.5 per cent), new launches growth (2.7 per cent), and volume growth.
The pharma sector in the country is witnessing rapid production growth. The Indian pharma sector has grown at 8 per cent CAGR and has also seen a 9 per cent increase in export rates in 2024, according to a report by .
The country also emerged as the world's largest supplier of generic medicines, with a 9 per cent pharma export growth rate, nearly double the global average, the report said.
(With inputs from IANS)
You may also like
"Sikkim has set benchmarks of excellence": Home Minister Amit Shah on 50th Sikkim Day
Pakistan deputy PM Ishaq Dar cites fake news to laud PAF, gets fact-checked at home
Gujarat Samachar owner's arrest by ED sparks political uproar
Teaching assistant who played twisted 'truth or dare' sex games with boys may have abused 'over 81' children
Career Tips: How to create a different identity at the workplace? Start with small everyday efforts; these tips will be useful..