EU’s US$572.3bn pharma-medical devices market discussed in Ahmedabad
India’s pharmaceutical exports stood at US$30.47 billion in FY 2024–25, registering a growth of 9.4 per cent over the previous year and supplies reaching out to 200+ markets, the Ministry of Commerce and Industry said on 21 Feb during an industry forum, “Chintan Shivir” in Ahmedabad.
The sector, currently valued at around US$60 billion, is projected to reach US$130 billion by 2030, it said, adding that more than 60 per cent of exports were sent to stringently regulated markets.
Exporters were also apprised of opportunities arising from recent trade engagements with key partners, including the European Union and the United States. It was noted that closer economic arrangements can provide clearer pathways for market access and steadier demand, particularly in large, regulated markets.
Engagement with the European Union was discussed in the context of a US$572.3 billion pharmaceuticals and medical devices market, while a bilateral trade arrangement with the United States can further improve market access and price competitiveness for Indian pharmaceutical companies.
The United States accounts for 34 per cent and Europe for 19 per cent of India’s pharmaceutical exports, said Ministry said.
This data was shared at an Industry Interaction on the theme “Scaling up Pharma Exports”, and reflected the Government’s priority of expanding India’s export footprint through closer coordination with industry and regulators.
The interaction underlined the Government’s focus on enabling conditions for sustained export acceleration, with industry indicating readiness to target double-digit growth in 2026–27.
The Department of Commerce emphasised the importance of sustained engagement with exporters and manufacturers and timely response to challenges in regulated markets.
The inaugural session witnessed participation from the Department of Commerce, Directorate General of Foreign Trade (DGFT), Central Drugs Standard Control Organisation (CDSCO) and the Food and Drugs Control Administration, alongside industry stakeholders.
Discussions by officials focused on regulatory processes, export facilitation and alignment between policy measures and the next phase of sectoral growth, particularly for Micro, Small and Medium Enterprises (MSMEs), which often face significant compliance, documentation and inspection-related requirements.
The interaction also took note of the direction set in the Union Budget 2026–27, which places biopharma and biologics at the centre of India’s future healthcare and manufacturing priorities.
The proposed Biopharma SHAKTI initiative, with an outlay of Rs.10,000 crore over five years, aims to strengthen India’s end-to-end ecosystem for biologics and biosimilars, reduce import dependence and enhance competitiveness in global supply chains, aligned with the objective of capturing 5 per cent of the global biopharmaceutical market share.
In this context, the proposal to establish three new National Institutes of Pharmaceutical Education and Research (NIPERs), upgrade seven existing NIPERs, develop over 1,000 accredited clinical trial sites and strengthen CDSCO capacity through induction of specialised scientific and technical personnel was discussed in terms of enabling faster evaluation of complex products and enhancing confidence in India’s regulatory framework.
Panel discussions and thematic sessions examined the export journey from manufacturing discipline to market acceptance. Sessions such as “Scaling Excellence through Entrepreneurial Journey,” “From Commodity Supplier to Trusted Global Partner,” “Vriddhi Ka Mantra – Growth Ka Yantra,” and “Scale Up Mantra for Emerging Companies” focused on strategies for the next decade of pharmaceutical exports. Participants shared practical experiences on strengthening quality systems, ensuring compliance readiness and moving up the value chain, while maintaining reliability in cost and supply.
A presentation on the activities of the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL) and the 12th International Exhibition on Pharma and Healthcare Industry (iPHEX) was made, followed by an open interaction with exporters and stakeholders. Around 200 exporters, largely from the western region of India, participated in the programme.
The discussions in Ahmedabad maintained focus on key priorities for exporters and the wider public, including faster and more predictable approvals, strengthened regulatory cooperation and a steady shift from volume-driven exports to higher-value segments such as biologics, biosimilars and innovation-driven products.
The Department of Commerce said it will continue engagement with exporters, regulators and Indian Missions abroad to ensure timely identification and resolution of issues, thereby supporting sustained growth in India’s pharmaceutical exports in global markets. Fiinews.com
