India's pharmaceutical exports increased 4.9% to $16.14 billion in the first half of FY27, supported by stronger demand across Europe, ASEAN and Latin American markets.
India's pharmaceutical exports registered growth of nearly 5% during the first half of FY27, reaching ₹1.53 lakh crore, or approximately $16.14 billion, according to data released by the Pharmaceuticals Export Promotion Council of India (Pharmexcil).
The growth was supported by increased demand from key international markets, particularly Europe, the Association of Southeast Asian Nations (ASEAN) and Latin America.
The latest figures highlight the continued strength of India's pharmaceutical manufacturing and export industry, which supplies medicines and healthcare products to markets worldwide.
During the second quarter of FY27, India's pharmaceutical exports increased 3.05% to ₹76,145.73 crore, equivalent to around $8.04 billion.
September emerged as the strongest month in the reported period, with exports reaching ₹25,988.52 crore, or approximately $2.74 billion. This represented a year-on-year increase of 4.68%.
The performance indicates sustained international demand for Indian pharmaceutical products despite differences in growth across individual markets and product categories.
Europe remained one of India's most important pharmaceutical export destinations during the first half of FY27.
Shipments to the region increased 9.66% to ₹31,142.75 crore, or approximately $3.29 billion. Europe accounted for 20.38% of India's total pharmaceutical exports during the period.
Other regions also recorded encouraging growth:
ASEAN: Exports increased 21.54%.
Latin America and the Caribbean: Shipments grew 16.58%.
Africa: Pharmaceutical exports rose 6.48%.
The strong performance across these markets helped support India's overall export growth and highlighted the expanding international reach of domestic pharmaceutical manufacturers.
Drug formulations and biological products continued to account for the largest share of India's pharmaceutical exports. The segment represented 73.84% of total shipments and registered growth of 3.81% during the first half of FY27.
Other pharmaceutical categories also reported positive performance:
Exports of bulk drugs and drug intermediates increased 12.07%. This growth reflects the strength of India's domestic manufacturing capabilities in pharmaceutical ingredients and essential inputs used in medicine production.
Exports of surgical products climbed 9.53%, contributing to the broader expansion of India's pharmaceutical shipments.
The growth across these categories indicates that India's export base extends beyond finished medicines to include pharmaceutical ingredients and healthcare-related products.
Namit Joshi, chairman of Pharmexcil, said India has developed a strong international reputation for producing quality medicines at affordable prices and manufacturing them at scale.
He emphasised that the next stage of industry growth should focus on moving towards higher-value pharmaceutical products.
According to Joshi, European markets offer significant opportunities for Indian companies to participate in the development of complex generic medicines, biosimilars and specialised therapies.
Greater involvement in these segments could help Indian pharmaceutical exporters strengthen their position in international markets and move beyond conventional medicine manufacturing.
Bhavin Mehta, vice chairman of Pharmexcil, highlighted the double-digit increase in exports of bulk drugs and intermediates. He said the performance demonstrates the wide-ranging capabilities of India's domestic pharmaceutical manufacturing sector.
Mehta also stressed the importance of continued investment in quality systems. Stronger quality standards and manufacturing processes will be essential for Indian exporters seeking greater participation in global pharmaceutical markets.
The first-half export performance underlines India's growing role in the global pharmaceutical supply chain. Strong demand from Europe, ASEAN and Latin America, combined with growth in bulk drugs and surgical products, has supported the sector's expansion.
Going forward, opportunities in complex generics, biosimilars and specialised therapies could help Indian companies move towards higher-value exports. Continued investment in manufacturing quality, research and development will be important for sustaining this momentum.
Conclusion
India's pharmaceutical export growth reflects its strengthening position in the global healthcare market. Rising demand from Europe, ASEAN and Latin America, along with increased shipments of bulk drugs and surgical products, is supporting the sector's expansion. Moving towards complex generics, biosimilars and specialised therapies, while maintaining high-quality standards, will be crucial for sustaining long-term growth.