India pharma market expected to hit USD 130 bn by 2030: Commerce Secretary
New Delhi: India's pharmaceutical exports stood at USD 30.47 billion in 2024-25, registering a growth of 9.4 percent over the previous year, supported by a strong manufacturing base and expanding global outreach, said Commerce Secretary Shri Rajesh Agrawal while inaugurating a one-day Regional Chintan Shivir on Pharmaceutical Exports.
The Commerce Secretary also highlighted that India’s domestic pharmaceutical market is currently estimated at around USD 60 billion. Shri Agrawal said that the market is expected to double to approximately USD 130 billion by 2030, reflecting the sector’s scale, depth, and innovation potential, through a video address in Chandigarh today.
The programme, organised by the Department of Commerce, Government of India, in collaboration with the Pharmaceutical Export Promotion Council of India (PHARMEXCIL), brought together policymakers, regulators, industry representatives, exporters including MSMEs, Indian missions abroad and technical experts to deliberate on key issues shaping India’s pharmaceutical export ecosystem.
The Commerce Secretary underlined that India is today 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 percent of exports going to stringent regulatory destinations. The United States accounts for about 34 percent, while Europe accounts for around 19 percent 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 strong 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 the 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.
The Commerce Secretary also underlined the vision of Prime Minister Shri Narendra Modi to position India as a trusted global trade partner and to expand India’s share in global pharmaceutical trade, thereby enabling wider access to quality and affordable healthcare across the world.
Participants were apprised of recent developments in India’s international trade framework, including the India–UK Comprehensive Economic and Trade Agreement (CETA) signed on 24 July 2025, and the India–European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA), which became effective on 1 October 2025. Emphasis was placed on the binding zero-tariff provisions in these agreements and their potential to enhance the competitiveness of Indian generic medicines, as well as the investment and employment opportunities arising from them. The programme also highlighted forthcoming India–Switzerland collaboration initiatives in biotechnology and pharmaceutical innovation, including the scope for linking Swiss biotech clusters with Indian innovation hubs.
Technical sessions were held on Antimicrobial Resistance (AMR), skilled manpower development, emerging developments in the Foreign Trade Policy, the evolving GST regime and the implementation of revised Good Manufacturing Practices (GMP). Experts from CSIR–Institute of Microbial Technology, NIPER Mohali, DGFT, CDSCO, State Drug Control Authorities, the Life Sciences Sector Skill Development Council and industry shared insights on regulatory readiness, quality management systems, workforce competency and digital compliance mechanisms. PHARMEXCIL also presented its export promotion initiatives, including its flagship event iPHEX, the 12th International Exhibition on Pharma and Healthcare Industry, expected to be held in 2026.
The Chintan Shivir concluded with an interactive session on the implementation of the revised GMP framework. The discussions underscored the Government’s continued focus on regulatory strengthening, trade facilitation and close collaboration with industry to further enhance India’s pharmaceutical export competitiveness and global standing.
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