India’s drugs and pharmaceuticals exports grew 5.65% year-on-year in December 2025 to reach $2.63 billion, up from $2.49 billion in the same month a year earlier, according to preliminary data from the Ministry of Commerce and Industry. In rupee terms, exports jumped 12% to ₹23,726.7 crore compared to ₹21,184.6 crore in December 2024, reflecting both volume growth and currency effects.
Strong Nine-Month Performance
For the first nine months of FY 2025-26 (April–December 2025), pharma exports rose 6.4% to $23.11 billion versus $21.72 billion in the year-ago period. In rupee terms, exports increased 10.79% to ₹2,01,866.86 crore, up from ₹1,82,211.28 crore the previous year, underscoring sustained global demand for Indian formulations and APIs.
Import Trends
Imports of medicinal and pharmaceutical products climbed 10.31% in December to $914.06 million, against $828.61 million in December 2024. Between April and December 2025, imports increased by 7.58% to $7.21 billion, from $6.70 billion, with rupee-value imports rising 12.06% to ₹63,013.35 crore, compared to ₹56,232.66 crore in the same period a year earlier.
Earlier Months’ Momentum
In November 2025, pharma exports surged 20.91% to $2.61 billion from $2.16 billion, while imports rose 8.83% to $822.68 million. Exports in the first six months (April–September 2025) were up 6.46% at $15.38 billion, with September alone posting 2.56% growth to $2.62 billion; imports for the same six-month period increased 7.21% to $4.65 billion. The first quarter (April–June 2025) had already shown export growth of around 5.2% and import growth of 4.1%, setting the tone for the fiscal year.
