US tariff uncertainty and Middle East shipping disruptions push India’s pharma export ambitions well below the $130 billion target set for 2030.
India’s pharmaceutical industry is likely to miss its sales target for the end of the decade as US tariff uncertainty and Middle East shipping disruptions weigh on exports, with the sector now expected to reach $80 billion to $90 billion by 2030, well below the industry’s $130 billion target set in April last year, according to Namit Joshi, Chairman of the Pharmaceuticals Export Promotion Council of India. The domestic pharma market was worth about $60 billion in the year ended March 2026, comprising roughly $31 billion of exports and $29 billion of domestic sales. India’s pharmaceutical shipments to the United States fell to about $9.7 billion in the financial year ended March 2026 from roughly $10.5 billion a year earlier, even as overall pharma exports rose 2.13 per cent, helped by demand from Brazil and Europe. Joshi said annual industry growth could stay at 6 to 10 per cent over the next three years before moving into double digits as higher-value products such as biosimilars and peptides gain ground.
Source: Reuters
