New Delhi, Feb 21 (IANS) India’s pharmaceutical exports grew by 9.4 per cent in 2024–25 to reach $30.47 billion, and the industry is now preparing to achieve double-digit growth in 2026–27 with strong government support, the Ministry of Commerce and Industry said on Saturday.

The interaction, organised on the theme “Scaling up Pharma Exports,” reflected the government’s focus on expanding India’s global footprint in medicines through closer coordination with industry and regulators.

The initiative is being carried forward under the guidance of Prime Minister Narendra Modi.

India’s pharmaceutical sector, currently valued at around $60 billion, is projected to grow to $130 billion by 2030, the ministry said.

The country ranks third globally in terms of volume of medicines produced and exports its pharmaceutical products to more than 200 countries.

Over 60 per cent of these exports go to highly regulated markets. The United States accounts for 34 per cent of India’s pharmaceutical exports, while Europe contributes 19 per cent.

In a video message, the Commerce Secretary emphasised the need for regular engagement with exporters and manufacturers, along with timely responses to challenges in regulated markets.

He reiterated the Prime Minister’s vision of strengthening India’s position as a trusted global trade partner and ensuring that affordable, high-quality medicines from India continue to reach people across the world.

The inaugural session saw participation from the Department of Commerce, the Directorate General of Foreign Trade (DGFT), the Central Drugs Standard Control Organisation (CDSCO), and the Food and Drugs Control Administration, along with industry representatives.

Discussions focused on simplifying regulatory processes, improving export facilitation and aligning policies with the next phase of sectoral growth, it added.

Special attention was given to Micro, Small and Medium Enterprises (MSMEs), which often face compliance, documentation and inspection challenges.

Participants also discussed the direction set in the Union Budget 2026–27, which places biopharma and biologics at the centre of India’s healthcare and manufacturing priorities.

The proposed Biopharma SHAKTI initiative, with an outlay of Rs 10,000 crore over five years, aims to strengthen India’s ecosystem for biologics and biosimilars, reduce import dependence and help the country capture 5 per cent of the global biopharmaceutical market.

–IANS

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