IGI Logo

Department of Pharmaceuticals, Secretary Arunish Chawla has said that exports of India's pharmaceutical and meditech sectors are expected to sustain the growth momentum in the ongoing fiscal (FY25) despite a slowdown in the global economy. He stated with the government revving up support for drug development in India, as many as 16 blockbuster molecules targeted for a wide range of therapeutic areas. This includes cancer, diabetes, HIV and tuberculosis, which are in the pipeline to be produced in India, Department of Pharmaceuticals.

He said ‘We have been analysing the export trends in the recent data. Even though there is a general slowdown in exports globally, the good news is that the Indian pharmaceuticals, biotech, and bulk drug exports have grown double-digit over the last year.’ Further, He said, in the first four months of this year, these exports have now become the fourth largest merchandise export item for the Indian economy. That's a huge achievement, and it's an important milestone that has been crossed. 

He also highlighted the robust performance of both pharma and the meditech industry. Last year, the consumables and surgical space became an export-oriented industry. Other segments, like imaging devices, body implants, and in-vitro diagnostic exports are showing good growth this year. Bullish on India's pharma and meditech exports, he said ‘We are confident that when the data comes finally for the current financial year, you will see impressive results for yourself.