India’s domestic pharmaceutical market to touch $130 billion by 2030: Commerce Secretary
Commerce secretary Rajesh Agrawal has expressed optimism over the growth of India’s domestic pharmaceutical market, with expectations for market to double to approximately $130 billion by 2030 from the current level of around $60 billion. He said this reflects the sector’s scale, depth, and innovation potential.
On the trade front, Agrawal highlighted that pharmaceutical exports from India grew 9.4 percent to $30.47 billion in 2024-25 over the previous year, on the back of a strong manufacturing base and expanding global outreach. Indian medicines reach over 200 markets worldwide, with more than 60 percent of exports going to stringent regulatory destinations. The United States accounts for about 34 percent, while Europe accounts for around 19 percent of India’s pharmaceutical exports.
Agrawal further underlined that India is today the world’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. The Commerce Secretary also underlined the vision of Prime Minister Narendra Modi to position India as a trusted global trade partner and to expand India’s share in global pharmaceutical trade, thereby enabling wider access to quality and affordable healthcare across the world.
