New Delhi, Jan 5 : Indiaâ??s pharmaceutical exports reached $30.47 billion in FY 2024â??25, registering a 9.4 per cent year-on-year growth, and are on track to surpass last yearâ??s performance in the current financial year, the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL) informed Commerce Secretary Rajesh Agrawal on Monday.

PHARMEXCIL also highlighted Indiaâ??s position as the third-largest pharmaceutical producer globally by volume and a trusted supplier of affordable, quality-assured medicines to over 150 countries, which reflects the potential for long-term export-led growth.

The leadership of PHARMEXCIL held a series of high-level meetings with senior officials of the Centre to deliberate on strategic priorities, policy alignment, and growth opportunities for strengthening Indiaâ??s pharmaceutical exports, according to a statement issued by the trade body.

In a separate meeting with Secretary, Department of Pharmaceuticals, Manoj Joshi, the PHARMEXCIL highlighted the performance and growth trajectory of the pharmaceutical sector.

Indiaâ??s domestic pharmaceutical market, currently valued at approximately $60 billion, is projected to grow to $130 billion by 2030, the trade body said.

Discussions with Joint Secretary, Department of Pharmaceuticals, Satya Prakash L., focused on strengthening industryâ??academia collaboration across key segments, including clinical trials, biopharmaceuticals, vaccines, and APIs, with an emphasis on innovation, skill development, and capacity building.

The delegation also met Director General, Foreign Trade, Lav Aggarwal, to brief him on PHARMEXCILâ??s key initiatives and to seek continued support for programmes such as Chintan Shivir and iPHEX 2026.

Commenting on the engagements, PHARMEXCIL Chairman, Namit Joshi, said: "Indiaâ??s pharmaceutical sector stands at a pivotal inflection point. With strong export momentum, a rapidly expanding domestic market, and consistent government support, we are well-positioned to scale our global footprint while reinforcing Indiaâ??s reputation as a trusted pharmacy of the world."

iPHEX 2026 & PHARMEXCIL MSME Committee Chairman, Nipun Jain, added: "Platforms like Chintan Shivir and iPHEX are critical enablers for MSMEs and exporters. They not only facilitate market access but also foster dialogue around quality, innovation, and global competitiveness."

/IANS