India’s pharmaceutical exports increased to USD 23.1 billion during April–December 2025–26, up from USD 21.7 billion in the corresponding period of the previous fiscal, reflecting steady demand for Indian medicines in global markets.
The expansion was led primarily by emerging markets, with Africa and Latin America together accounting for over 22% of the incremental export growth. Among individual countries, Nigeria emerged as the largest contributor, accounting for 14.3% of the growth, supported by rising demand for affordable generics, anti-infectives and essential medicines. Brazil followed with a 7.9% contribution, driven by increased shipments of formulations and active pharmaceutical ingredients (APIs).
In contrast, mature markets showed limited upside. The United States, India’s largest pharma export destination, contributed around 4% of total export growth, indicating a relatively stable but subdued demand environment amid pricing pressure and regulatory scrutiny. Exports to the UK declined marginally, while shipments to Belgium remained largely flat during the period.
Growth beyond the US market was well diversified, with incremental gains recorded in the Netherlands, Australia, Canada and Russia, highlighting India’s widening export footprint and reduced dependence on any single geography.
Industry experts attribute the overall growth to India’s strong position in generic medicines, vaccines and APIs, along with improving regulatory compliance and supply-chain resilience. Government initiatives such as the Production Linked Incentive (PLI) schemes for pharmaceuticals and APIs, coupled with efforts to enhance ease of doing business and export facilitation, have also supported export momentum.
Stakeholders noted that smart geographic diversification is helping reduce market concentration risk, while sustained demand from multiple developed nations signals regulatory acceptance and confidence in Indian pharma quality standards. The expansion aligns with rapidly growing healthcare infrastructure in Africa and Latin America, paving the way for long-term, sustainable partnerships.
