India's Pharma Exports Cross $28 Billion Mark in FY26, Driven by Formulations and Biologicals

India's pharmaceutical exports have surpassed $28 billion in the current financial year through February, registering a growth of over 5 per cent compared to the same period last year, a senior government official confirmed at a high-level industry gathering. The announcement came during the inaugural session of 'Chintan Shivir: Scaling Up Pharma Exports', where officials and industry leaders assembled to chart the course for accelerating India's pharmaceutical trade on the global stage. The official highlighted that the growth was primarily led by formulations, biologicals, vaccines, and Ayush products — segments that have increasingly gained recognition in international markets. "Despite global challenges, pharmaceutical exports have been among the few sectors to maintain growth momentum," the official stated, adding that exports from April to February in FY26 stood at $28.29 billion, reflecting a 5.6 per cent increase over the same period in FY25. Rajesh Agrawal, Secretary in the Department of Commerce, offered a nuanced perspective on target achievement. He noted that even if the set targets in dollar terms prove difficult to achieve, overall export