India's Pharma Exports Hit $28.29 Billion in April-February

India's pharmaceutical exports demonstrated resilience amid global challenges, reaching $28.29 billion from April to February in the current financial year, a 5.6 percent increase from the same period last year, officials reported on Saturday during an industry event in Hyderabad.

K. Raja Bhanu, director general of the Pharmaceuticals Export Promotion Council of India, Pharmexcil, highlighted the sector's steady growth at the inaugural session of the Chintan Shivir on Scaling Up Pharma Exports. He noted that the performance was driven by strong demand for formulations, biologicals, vaccines, and AYUSH products, even as the industry faced pricing pressures and trade volatility. For the full fiscal year 2024-25, exports totaled $30.47 billion, reflecting a 9.4 percent year-on-year rise.

The Indian pharmaceutical sector, valued at approximately $60 billion, is poised for significant expansion, with projections estimating it will double to $130 billion by 2030. Pharmexcil aims to achieve $65 billion in exports by that year, supported by government policies prioritizing the industry, diversification into new markets, increased foreign direct investment, and streamlined regulatory...