New Delhi, Dec 17 (PTI) Commerce Secretary Rajesh Agrawal on Wednesday said that India is a trusted global supplier of quality and affordable medicines, and the country's pharmaceutical exports have crossed
USD 30 billion last fiscal.
Addressing a Chintan Shivir on issues related to pharma exports in Chandigarh, the secretary, in a video message, said that India is the third largest pharmaceutical producer by volume and fourteenth by value, with medicines reaching over 200 markets, including a strong presence in stringent regulatory destinations.
It focuses on addressing non-tariff barriers, strengthening regulatory cooperation, and building a robust life sciences innovation ecosystem.
The commerce secretary also highlighted that India's domestic pharmaceutical market is currently estimated at around USD 60 billion, and is expected to double to about USD 130 billion by 2030, reflecting the sector's scale, depth and innovation potential.
The exports grew by about 10 per cent to USD 30.47 billion in 2024-25.
India is the world's third largest pharmaceutical producer by volume and fourteenth by value, with more than 3,000 companies, 10,500 manufacturing units and over 60,000 generic brands across 60 therapeutic areas.
Indian medicines reach over 200 markets worldwide, with more than 60 per cent of exports going to destinations with stringent regulations.
The United States accounts for about 34 per cent and Europe about 19 per cent of India's pharmaceutical exports.
These strengths, combined with India's role as a reliable supplier of quality-assured and affordable medicines, were recognised as a solid foundation for the next phase of export growth.
Deliberations during the Chintan Shivir focused on sensitising exporters, especially MSMEs, to India's evolving international trade and cooperation framework, and on strengthening industry awareness of policy, regulatory and capacity-building initiatives relevant to pharmaceutical exports.
Discussions centred on identification of non-tariff barriers and regulatory challenges, expansion of regulatory cooperation and mutual recognition mechanisms to enable faster and more predictable approvals, and building a robust life sciences innovation ecosystem encompassing research and development, clinical trials, biologics, vaccines and biosimilars. PTI RR HVA
