India's Pharma and Surgical Exports Surge in Global Markets

India's exports in the pharma sector, including surgical goods, drug formulations, and biologicals, are experiencing remarkable growth in markets like the US and Europe, driven by innovation and competitive pricing. From April to August 2024, exports have increased significantly, highlighting India's expanding role as a global supplier.

Driven by innovation and competitive pricing, India is making significant inroads in developed markets such as the US and Europe with its exports of surgical goods, drug formulations, and biologicals in the pharmaceutical sector. Recent data from the commerce ministry shows robust growth during the April-August fiscal period.

Surgical exports rose by 3.3 percent to USD 0.29 billion in the first five months of 2024-25, while drug formulations and biological exports grew by 10.8 percent to USD 9.42 billion. This growth underscores India's increasing prominence as a reliable global supplier.

The United States remains the largest market, accounting for 39.2 percent of drug and biological exports. Other key markets include the UK, South Africa, France, and Canada. Similarly, India's surgical exports show consistent growth, responding to high international demand with precision and quality.

(With inputs from agencies.)