The export expansion was bolstered by strong momentum in the second quarter, which generated USD 8.04 billion in outbound shipments and culminated in a peak monthly total in September. Formulations and biologicals formed the bulk of outbound trade, while bulk drugs and surgical products delivered notable supporting growth. European markets absorbed over a fifth of all shipments, complemented by rapid double-digit upticks across Latin America and ASEAN destinations.
Key points
Diversified regional demand in Europe, Latin America, and ASEAN successfully counterbalan…: Diversified regional demand in Europe, Latin America, and ASEAN successfully counterbalanced moderating export volumes to the United States.
Drug formulations and biologicals continue to dominate trade, making up 73.84 percent of…: Drug formulations and biologicals continue to dominate trade, making up 73.84 percent of all pharmaceutical shipments from India.
Sustaining future export expansion will depend on domestic manufacturers advancing into s…: Sustaining future export expansion will depend on domestic manufacturers advancing into specialized therapies and pharmaceutical innovation.
Sources checked by our analysis pipeline: 1
Shipments stood at USD 15.38 billion in the same period last fiscal year.
According to data released by the Pharmaceuticals Export Promotion Council of India (Pharmexcil), the first-half performance saw growth across drug formulations and biologicals, bulk drugs and drug intermediates, and surgical products.
During the second quarter (July-September 2026), outbound shipments increased 3.05 per cent to USD 8.04 billion, compared with USD 7.8 billion in the same period the previous year. In the quarter, September recorded the highest monthly export value at USD 2,744.05 million, marking an increase of 4.68 per cent over September 2025.
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Region-wise, exports to Europe rose 9.66 per cent to USD 3,288.27 million, making up 20.38 per cent -- or over one-fifth -- of India's total pharmaceutical exports during H1 FY27.
Exports to the ASEAN region grew 21.54 per cent, Latin America and the Caribbean rose 16.58 per cent, and shipments to Africa increased 6.48 per cent. These diversified geographic gains helped sustain overall export growth even as shipments to the US moderated during the…
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