Pharmaceuticals and medical devices boost India’s export profile

India’s pharmaceutical industry now ranks third globally by volume and tenth by value. Over the past five years, it has grown at an average 9.2% annual rate, reaching a turnover of ₹5,08,630 crore in 2025‑26, with exports amounting to ₹2,62,697 crore. The domestic medical‑device sector recorded a 48.2% increase, expanding from roughly ₹28,000 crore in 2019‑20 to ₹41,500 crore in 2024‑25, reflecting rising investment and manufacturing capability.