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Pharmaceuticals exports grow 9.4 per cent in FY25
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Gireesh Babu, New Delhi
April 21 , 2025
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Exports of Drugs and Pharmaceuticals from the country has registered a 9.39 per cent growth during the financial year 2024-25, with a marginal decline compared to the growth reported in 2023-24 compared to its previous year.
The pharma exports during the month of March, however, registered a growth of 31.21 per cent, highest monthly export growth in the current fiscal year, according to provisional data from the ministry of commerce and Industry.
Exports during the 12 months ended March, 2025 was at $30.47 billion, as compared to $27.85 billion reported in the previous year. It may be noted that the exports reported a 9.67 per cent growth during the financial year 2023-24, at $27.85 billion as compared to $25.39 billion registered for the corresponding 12 months of financial year 2022-23.
The growth in FY24 and FY25 is higher as compared to a meagre 3.25 per cent growth reported during the fiscal year 2022-23. Exports reported in 2022-23 was $25.39 billion as compared to $24.59 billion in the fiscal year 2021-22.
During the month of March, 2025, exports of drugs and pharmaceuticals has grown to $3.68 billion, as compared to $2.80 billion during the same period of previous year. It may be noted that for the month of March, 2024, the Indian pharma firms registered exports of $2.80 billion as compared to $2.49 billion reported in the same month of last year, registering a growth of 12.73 per cent.
In Rupee terms, the pharma exports during the fiscal year 2024-25 grew 11.86 per cent to Rs. 2.58 lakh crore as compared to around 13 per cent growth reported in the previous year. The exports in fiscal year 2023-24 stood at Rs. 2.30 lakh crore, as against Rs. 2.04 lakh crore of exports reported in the previous fiscal year.
The exports in March, 2025 stood at Rs 31,896 crore, as compared to Rs. 23,287 crore, with a 36.97 per cent growth. This is compared to the 13.7 per cent growth reported in the month of March, 2024, at Rs. 23,262.4 crore, as compared to Rs. 20,458.97 crore in March, 2023.
The imports of medicinal and pharmaceutical products, during the fiscal 2024-25 grew a significant 8.42 per cent as compared to the meagre 2.02 per cent growth reported in 2023-24.
Imports during the fiscal year 2024-25 stood at $8.94 billion as compared to $8.24 billion during the same period of previous fiscal year of 2023-24. Imports was $8.10 billion in the fiscal year 2022-23.
The month of March, 2025 witnessed a growth of 9.03 per cent in imports, to $742.2 million as compared to $680.71 million in the same month of previous fiscal year.
The month of March, 2024 witnessed a decline of over 2 per cent in imports, as compared to $701.19 million in the same month of previous fiscal year, as declared by the Ministry in the end of 2023-24.
As reported earlier, the exports of drugs and pharmaceuticals during the month of February, 2025 posted a decline of 1.5 per cent year-over-year (YoY) at $2.47 billion during the month, as compared to $2.51 billion in the corresponding month, last year.
It may be noted that the imports during the fiscal year of 2022-23 reported a decline of over 10 per cent, as compared to $9.07 billion reported during fiscal year 2021-22.
The ministry of health and family welfare has earlier said that India's drug and pharmaceutical products exports grew by 125 per cent from Rs. 90,415 crore in 2013-14 to Rs. 2,04,110 crore in 2022-23.
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