Central Government Backs Pharma Companies

The Central Government believes that the ongoing conflict in West Asia will have only a limited impact on India's pharmaceutical exports. Ravi Teja, Deputy Director of the Union Ministry of Commerce, said that due to several relief measures introduced by the government, pharma exports in the 2026-27 financial year are expected to grow further in volume compared to 2025-26. To support the industry, the government has removed import duties on key raw materials required for pharmaceutical manufacturing and may extend these relief measures beyond the end of this month if necessary.

Ravi Teja said India is focusing on expanding pharmaceutical exports not only to the United States and Europe but also to Central Asia, Africa, and Russia. He noted that despite certain challenges, India's pharma exports have witnessed significant growth over the past 12 years. Exports increased from USD 14 billion in 2014-15 to USD 31 billion in 2025-26, registering a growth rate of 7.2 percent during the last financial year.

He expressed confidence that India can achieve its target of USD 50 billion in pharmaceutical exports by 2030. Ravi Teja also highlighted that 20 percent of the world's generic medicines are supplied by India. The government will continue supporting small and medium sized pharmaceutical companies by bearing 50 percent of the costs incurred for registration and inspection processes with foreign regulatory authorities.