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Share of pharma in merchandise exports grew to almost 7 per cent in 2024-25
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Gireesh Babu, New Delhi
April 17 , 2026
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The share of drugs and pharmaceuticals in India's merchandise exports stood at almost 7 per cent in 2024-25 with an increase of almost two percentage points in ten years, according to the ministry of commerce.
The share of drugs and pharmaceuticals in overall merchandise exports increased from 4.97 per cent at $15.43 billion in 2014-15 to 6.96 per cent at $30.47 billion in 2024-25, and stood at 7.02% during April to November, 2025, said the Department of Commerce's Annual Report for 2025-26.
The share grew from 4.97 per cent in 2014-15, to 5.80 per cent (at $19.15 billion) of merchandise exports in 2018-19, and reached 6.9 per cent in 2024-25, it elaborated. It is one of the top sectors in terms of export growth, following engineering goods and electronic goods. During the period between April to November 2025, exports was at $20.48 billion, it added.
As reported earlier, the Economic Survey 2025-26, stated that India currently ranks 11th globally in pharmaceutical exports by value, with exports to 191 countries in 2024-25, of which 50 per cent are directed to highly regulated markets such as the United States and Europe, reflecting wide international acceptance of Indian medicines.
In 2024-25, pharmaceutical exports stood at $30.5 billion, a nearly 16-fold increase from $1.9 billion in 2000-01. Export momentum has also remained strong every month, with drugs and pharmaceuticals exports rising by approximately 2.70 per cent from $2.59 billion in January 2025 to $2.66 billion in January 2026. Further, medical device exports have grown significantly from $2.5 billion in 2020-21 to $4.1 billion in 2024-25, with exports to 187 countries in FY25.
The Economic Survey also shows that in FY25, the sector’s annual turnover reached Rs. 4.72 lakh crore, with exports growing at a CAGR of 7 per cent over the last decade (FY15 to FY25). India is the largest global supplier of generic medicines, accounting for around 20% of global supply, manufacturing about 60,000 generic brands across 60 therapeutic categories.
Indian pharmaceutical exporters have strategically diversified their export portfolio by expanding shipments to emerging and non-traditional destinations, including Nigeria, Mexico, the United Republic of Tanzania, the Netherlands, France, Brazil, Sri Lanka, Saudi Arabia, and Spain, across bulk drugs, surgical products, and formulations. This targeted market diversification has enhanced export resilience by mitigating exposure to tariff-related risks concentrated in individual markets, says the Central government.
The Indian pharmaceutical industry ranks 3rd globally by volume and 11th by value, with more than 3,000 companies and 10,500 manufacturing units. The domestic pharmaceutical market, valued at $60 billion, is projected to reach $130 billion by 2030.
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