New Delhi, Dec 17 : Indiaâ??s pharmaceutical exports stood at $30.47 billion in 2024â??25, registering a growth of 9.4 per cent over the previous year, supported by a strong manufacturing base and expanding global outreach, Commerce Secretary Rajesh Agrawal said on Wednesday.

Inaugurating a one-day Regional Chintan Shivir on Pharmaceutical Exports, the Commerce Secretary highlighted that Indiaâ??s domestic pharmaceutical market is currently estimated at around $60 billion.

The market is expected to double to approximately $130 billion by 2030, reflecting the sectorâ??s scale, depth, and innovation potential, he added.

The Commerce Secretary underlined that India is today the worldâ??s third-largest pharmaceutical producer by volume and fourteenth by value, with more than 3,000 companies, 10,500 manufacturing units and over 60,000 generic brands across 60 therapeutic areas.

Indian medicines reach over 200 markets worldwide, with more than 60 per cent of exports going to stringent regulatory destinations. The United States accounts for about 34 per cent, while Europe accounts for around 19 per cent of Indiaâ??s pharmaceutical exports. These strengths, combined with Indiaâ??s role as a reliable supplier of quality-assured and affordable medicines, were recognised as a strong foundation for the next phase of export growth.

Deliberations during the Chintan Shivir focused on sensitising exporters, especially MSMEs, to Indiaâ??s evolving international trade and cooperation framework, and on strengthening industry awareness of policy, regulatory and capacity-building initiatives relevant to pharmaceutical exports.

Discussions centred on the identification of non-tariff barriers and regulatory challenges, expansion of regulatory cooperation and mutual recognition mechanisms to enable faster and more predictable approvals, and building a robust life sciences innovation ecosystem encompassing research and development, clinical trials, biologics, vaccines and biosimilars.

The Commerce Secretary also underlined the vision of Prime Minister Narendra Modi to position India as a trusted global trade partner and to expand Indiaâ??s share in global pharmaceutical trade, thereby enabling wider access to quality and affordable healthcare across the world.

Participants were apprised of recent developments in Indiaâ??s international trade framework, including the Indiaâ??UK Comprehensive Economic and Trade Agreement (CETA) signed on July 24, 2025, and the Indiaâ??European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA), which became effective on October 1, 2025.

/IANS