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Imports of bulk drugs and intermediates decline 9.3% in January
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Gireesh Babu, New Delhi
March 07 , 2026
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Imports of bulk drugs and intermediates to India registered a decline of 9.3% in the month of January, 2026, at $392 million, as compared to $432.24 million in the same month of last year.
For the period from April, 2025 to January, 2026, imports reported a decline of 4.31%, which is in line with the trend that has been reported during the first nine months of the fiscal year. Imports stood at $3.77 billion during the ten months, as compared to $3.94 billion registered in the same period of previous fiscal year.
In rupee terms, imports registered a decline of 4.54% during the month of January, at Rs. 3,559.4 crore as compared to Rs. 3,728.8 crore reported in the corresponding month of last fiscal year.
Quantity of imports, however, reported a growth of 2.37% at 45,556.26 MT during the month, as against 44,501.7 MT reported in January, 2024.
In rupee terms, imports during April, 2025 to January, 2026, registered a marginal decline at Rs. 33,031.5 crore, as compared to Rs. 33,140.7 crore reported during the same period on a year-on-year (YoY) basis.
In terms of quantity, imports of bulk drugs and intermediates in the first ten months reported a YoY growth of around 4.4% at 4,22,402 MT as compared to 4,04,505.9 MT.
As reported earlier, in the first three quarters of FY 26, imports reported a decline of 3.75% at $3.37 billion, as compared to $3.51 billion registered in the same period of previous fiscal year. During the quarter ended December, 2025, the imports declined 6% to $1.14 billion, as compared to $1.21 billion in the same quarter a year ago. For the month of December, India imported around $410.5 million worth of bulk drugs and intermediates, as compared to $427.84 million during the same month of 2024.
In terms of quantity, the first nine months of the fiscal year reported 4.68% growth at 3,76,845.25 MT of bulk drugs and intermediates, as compared to 3,60,004 MT imported in the same period of last year. For the quarter ended December, 2025, the quantity grew 9.4% to 1,25,229 MT as compared to 1,14,472 MT during the same period of FY25. However, during the month of December, the imports was almost stagnant at 39,548 MT as against 39,516 MT in the same month of 2024.
According to data from the ministry of commerce and industry, the imports during FY 2024-25 stood at $4.65 billion, as compared to $4.55 billion in FY 2023-24. This is compared to a marginal decline reported in the FY 2023-24, as against the $4.51 billion imports reported during FY 2022-23.
The Central government has been emphasising on reducing the imports of essential pharmaceutical raw materials such as bulk drugs, drug intermediates and key starting materials, among others, and has initiated various incentive schemes to support domestic production of these materials.
The Department of Pharmaceuticals has been promoting production of pharma raw materials in the country, including through a production linked incentive (PLI) scheme for promotion of domestic manufacturing of critical key starting materials (KSMs)/drug intermediates and active pharmaceutical ingredients (APIs) in the country, to support the industry in various aspects regarding ease of doing business and availing the benefits of the Scheme.
The PLI scheme for bulk drugs has resulted in cumulative sales of Rs 2,315.44 crore, reducing imports worth Rs. 1,807.32 crore till September, 2025, said the Ministry.
It has also announced schemes to promote bulk drug parks in the country, as part of its efforts to promote domestic manufacturing of pharma ingredients.
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