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With its development into importance in the pharmaceutical business, India is currently known as the “Pharmacy of the World.” Pharma exports from India fulfill the majority of the world’s demand for generic drugs and vaccines due to its strong infrastructure and dedication to quality. It is worth mentioning that pharma exports from India grew by 9.67% in the fiscal year 2023–24, totaling USD 27.9 billion.
Major Pharmaceutical Exports from India
India’s pharma exports from India are varied, such as a wide range of medicines for different medical needs. These are the main categories-
Drug Formulations and Biologicals
This group makes up about 75% of all of India’s pharmaceutical products and is the most valuable one. It includes finished dosage forms and biological goods with a lot of different parts.
Pharmaceutical Active Ingredients (APIs) and Drug Intermediates in Bulk
These are the components used to create formulations. India is a trusted supplier because it can make high-quality APIs.
Herbal and Ayurvedic Products
India exports a wide range of herbal and Ayurvedic products to satisfy the increasing demand for natural and alternative therapies.
Surgical and Medical Devices
This group has a variety of surgical instruments and medical equipment. It shows that India is growing more involved in the medical technology industry.
Continual expansion in these categories highlights India’s capacity to provide affordable solutions that satisfy international quality requirements, thus strengthening its position as a leading international pharmaceutical exporter.
The Top Destinations for Exports
The significant number of countries that buy Indian drugs shows how important the country is to improving health. Indian pharmaceutical goods are sold in many places, but the top countries that buy them are listed below.
United States: Over 31% of all of India’s pharmaceutical products go to the U.S., making it the country’s biggest market. Exports to the U.S. reached USD 7.54 billion in FY24.
Belgium: During the same time period, India sent 714.92 million USD worth of pharmaceutical goods to Belgium, which is a major hub in Europe.IBEF
South Africa: As an important country in Africa, South Africa bought medicines from India worth USD 657 million.
United Kingdom and Brazil: Both countries have strong demand, with USD 647.68 million and USD 642.67 million worth of imports, respectively.
Top Pharmaceutical Exporting Companies In India
A number of Indian medicine companies have been very important to the country’s export success. These companies show how strong and innovative India’s pharmaceutical industry is, and they make a big difference in the country’s exports. They consist of the following-
Sun Pharmaceutical Industries: It is one of the biggest drug companies in India. It also has a big reach and offers a huge selection of formulations and APIs.
Dr. Reddy’s Laboratories: The Dr. Reddy’s brand is well-known for its strong generics, APIs, and biosimilar portfolio. It has a strong presence in many foreign markets.
Cipla Limited: Cipla is a trusted name in respiratory, anti-retroviral, and other therapeutic segments, especially in developing countries, because it is committed to making healthcare affordable.
Aurobindo Pharma: Available in over 150 countries, Aurobindo has a wide range of goods including antibiotics, antiretrovirals, and heart health products.
Lupin Limited: Lupin focuses on making medicines for heart disease, diabetes, asthma, and kids. It has a strong presence in both developed and developing markets.
Also Read This: Turmeric Export From India
How Well Do Different Exports Do?
To get a better idea of how medicine export from India has changed over time, look at the following information.
India’s Pharmaceutical Export Performance (FY21-FY24)
| Fiscal Year | Export Value (USD Billion) | Year-on-Year Growth (%) |
| 2020-21 | 24.44 | 18% |
| 2021-22 | 24.59 | 0.61% |
| 2022-23 | 25.4 | 3.3% |
| 2023-24 | 27.9 | 9.67% |
Exports have been steadily increasing, as shown in the table, which is a testimony to the durability and flexibility of exports pharma in India.
Top Export Destinations and Corresponding Export Values (FY24)
| Country | Export Value (USD Million) | Percentage of Total Exports |
| United States | 7,540 | 31% |
| Belgium | 714.92 | 2.82% |
| South Africa | 657.00 | 2.59% |
| United Kingdom | 647.68 | 2.56% |
| Brazil | 642.67 | 2.54% |
These numbers highlight the relevance of these markets to India’s export strategy.
What are the reasons for the Increase in Exports?
The pharma exports from India have grown substantially due to a number of factors as shown below.
Manufacturing that is affordable and effective has made India a top supplier of pharmaceuticals.
Companies in India have proven their commitment to meeting high international quality standards by having the most US FDA-approved factories outside of the US. This demonstrates their strong regulatory compliance.
Production Linked Incentive (PLI) and similar government initiatives have increased medicine export from India and domestic industry.
Wrapping It Up
Since its pharmaceutical exports have been developing consistently, India is now an international pharmaceutical powerhouse. India will continue to play a major part in the pharmaceutical sector due to its affordable production, high-quality standards, and increasing demand.
FAQs
The United States buys the most pharmaceuticals from India (31% of all pharmaceuticals exported from India in FY24).
India is a selected international supplier of pharmaceuticals because it makes them reasonably, follows the rules carefully, and has high-quality standards.
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