Even as Indian markets continue to get hit by cautious sentiment due to a lack of a trade deal announcement with the United States, one of the key export-driven sectors, the pharma industry, has crossed $30 billion in exports.
This is according to Commerce Secretary Rajesh Agrawal, who recently attended a chintan shivir in Chandigarh, where he spoke about issues related to pharma exports, cites The Economic Times.
Agrawal revealed that exports in the pharma sector crossed $30 billion in FY25 while stating that India is right now the third-largest pharmaceutical producer by volume and 14th by value.
Indian-made medicines, after all, have reached in over 200 markets and has a strong presence in regions where regulatory oversight remains stringent, including the United States.
The total value of India's domestic pharmaceutical market is estimated at $60 billion, Rajesh Agrawal said.
He added by stating that the value of the market will double to about $130 billion by 2030.
The Indian pharma market is also home to some of the country's largest companies by market capitalisation, including Sun Pharma, which is also a key exporter to the US.
The likes of Cipla, Divi's Labs and Dr Reddy's Laboratories are some of the other big pharma companies involved heavily in the export business.
Earlier this month, Wockhardt notably became the first Indian pharma company to receive an acceptance for a New Drug Application (NDA) from the USFDA for its Zaynich antibiotic, which is expected to be a key growth driver for the company going forward.
However, even as pharma companies focus on innovation and growth, reaching a trade deal with the US is the main newspoint investors will be looking out for, as far as the pharma sector is concerned.
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