India’s pharmaceutical exports grew 4.90 percent Year-on-Year (YoY), rising from USD 15,382.85 million in H1 FY26 (April-September 2025) to USD 16,135.93 million in H1 FY27 (April-September 2026), according to data released by the Pharmaceuticals Export Promotion Council of India (Pharmexcil). The first-half performance included growth in drug formulations and biologicals, bulk drugs and drug intermediates, and surgical products.

Pharmaceutical exports during July-September 2026 (Q2 FY27) grew 3.05 percent YoY to USD 8.04 billion, compared with USD 7.80 billion in the corresponding quarter of FY26. Within Q2 FY27, September recorded the highest monthly export value at USD 2,744.05 million, an increase of 4.68 percent over September 2025.

Beyond the monthly performance, the H1 FY27 figures also highlight the scale of India’s pharmaceutical exports to Europe. Shipments to the region increased 9.66 percent to USD 3,288.27 million, accounting for 20.38 percent of India’s overall pharmaceutical exports.

Europe’s significant share, together with its YoY growth, makes it an important part of the first-half export picture. This growth was reflected in several major European destinations during the same period. Exports to Germany increased 21.57 percent, while the Netherlands and France registered growth of 15.93 percent and 15.02 percent, respectively. The gains across these markets highlight the opportunities for Indian exporters to deepen their engagement with Europe.

Europe’s performance was accompanied by gains across other regions during H1 FY27. Exports to ASEAN grew 21.54 percent, while Latin America and the Caribbean recorded 16.58 percent growth and Africa grew 6.48 percent. These developments reflect India’s pharmaceutical export presence across a diverse set of international markets. These gains also helped sustain India’s overall pharmaceutical export growth even as shipments to the US moderated, highlighting the importance of a geographically diversified export presence.

The geographical gains were matched by growth in key product categories over the same 6-month period. Drug formulations and biologicals remained the largest export category, accounting for 73.84 percent of total shipments and growing 3.81 percent. Bulk drugs and drug intermediates grew 12.07 percent, while surgical exports increased 9.53 percent. The product mix underscores the range of medicines and health care products supplied by Indian pharmaceutical exporters.

Namit Joshi, Chairman, Pharmexcil, said, “India has built its global pharmaceutical reputation on the strength of quality, affordable medicines and large-scale manufacturing. The next phase of our growth should focus on moving up the value chain, where Indian companies are not just suppliers but active partners in pharmaceutical innovation. This will require greater investment in research and development, technology transfer and co-development of complex generics, biosimilars and specialised therapies. Europe presents significant opportunities for such collaborations, given its strong research and innovation ecosystem. By combining India's manufacturing and formulation expertise with global technological capabilities, we can create opportunities for Indian companies to participate in higher-value segments of the pharmaceutical industry.”

Pharmexcil will continue to work closely with the government of India, the pharmaceutical industry, overseas regulators and international stakeholders to strengthen market access, regulatory cooperation and the global competitiveness of Indian pharmaceutical exporters.

The council will support greater engagement across established and emerging markets and efforts to move towards higher-value, innovation-led pharmaceutical products.

Bhavin Mehta, Vice Chairman, Pharmexcil, said, “The double-digit growth in bulk drugs and drug intermediates reflects the breadth of India’s pharmaceutical manufacturing capabilities. The expansion of exports across Europe, ASEAN, Latin America and Africa also demonstrates the opportunities available to companies across the value chain. Continued investment in quality systems, advanced manufacturing and regulatory preparedness can support greater global participation by Indian exporters, including MSMEs.”