Indian Pharma Exports Remain Resilient Despite Tariff Pressures

Despite tariff pressures, India’s pharmaceutical exports continue to register strong growth. During the first eight months of the current financial year (2025–26), pharmaceutical exports reached USD 20.48 billion (approximately ₹1.84 lakh crore). This represents a growth of around 6.5% compared to the corresponding period of the previous financial year, according to officials from the Ministry of Commerce.

Exports of Indian pharmaceutical products have shown particularly strong momentum to countries such as Nigeria and Brazil. During April–November of the previous year, Nigeria imported pharmaceuticals worth USD 1.79 billion, while Brazil imported medicines valued at USD 1.0 billion from India. Notably, Nigeria’s share in India’s total pharmaceutical exports has now risen to 14%. Despite concerns over tariff measures under former US President Donald Trump, Indian pharmaceutical exports to the United States have remained unaffected. As a result, the US retained its position as India’s largest pharmaceutical export destination, accounting for 31% of total pharma exports during April–November of the previous year.

In addition, developed markets such as France, the Netherlands, Canada, Germany and South Africa continue to import significant volumes of pharmaceutical products from India. During the first eight months of the current financial year, India’s pharmaceutical exports to the Netherlands increased by USD 580 million compared to the same period last year, the Ministry of Commerce noted. Industry experts estimate that if this growth trajectory continues, India’s pharmaceutical exports in the current financial year could rise by 9% to 10%, surpassing last year’s total of USD 30.47 billion.