India's Pharmaceutical Exports in FY25
India achieved a record high in its drug and pharmaceutical exports, reaching $30 billion in FY25, marking a significant milestone with a 31% year-on-year increase in March.
Key Highlights
- The total exports for FY25 were $30,467.32 million, a 9.39% increase from the $27,851.70 million recorded in FY24.
- The target for FY25 exports was $29.38 billion.
Product Categories
- Drug formulations and biologicals led with $20,118.18 million, accounting for over 75% of total exports and growing nearly 9% year-on-year.
- Bulk drugs and intermediates exports grew by 1.40% to $4,319.30 million.
- Vaccines exports saw a decline of 4.20% to $1,043.76 million.
- Surgicals increased by 5.16%, reaching a value of $683.47 million.
- Ayush and Herbal products grew by 6.17% to $620.97 million.
Market Insights
- The United States remains the largest market, accounting for more than one-third of exports, with a 14.29% increase to $8,953.37 million.
- The UK, Brazil, France, and South Africa together accounted for less than 10.5% of total exports.
- Exports to South Africa contracted by 1.78%.
Regional Performance
- The top regions include NAFTA, Europe, Africa, and LAC, collectively accounting for 76% of India's pharma exports.
- NAFTA accounted for 36.60% of exports, witnessing a growth of 14.06% to $9,804.78 million.
- Declines were observed in Africa (1.74%) and North East Asia (4.30%).
Declines in Specific Markets
- Significant declines were noted in exports to the United Arab Emirates (17.70%), Turkey (16%), Sri Lanka (14.60%), The Netherlands (13.79%), China (10.60%), and Belgium (7.37%).
- Exports to Mexico decreased by 3.80% and to Thailand by 0.14%.