New Delhi, 3 September (Kiran News): India is set to boost pharmaceutical exports to Russia, Brazil, and the Netherlands, aiming to diversify its export markets beyond the United States amid ongoing concerns over potential US tariff hikes. According to industry insiders, the government and leading drugmakers are focusing on expanding market share in these countries, leveraging India’s robust generic drug manufacturing capacity.
The US currently accounts for over a third of India’s pharma exports—around $10.5 billion in FY2025—largely comprising affordable generic medications. While Indian pharmaceuticals remain exempt from recent US tariffs, sector stakeholders remain cautious as policy uncertainty lingers.
“We believe there is scope for growth in Russia, Brazil, the Netherlands, and parts of Europe. The idea is to diversify our export chain and increase market share in other countries,” an industry source said, requesting anonymity.
Key Markets & Export Data:
US: $10.5 billion (FY2025, +20% YoY)
UK: $914 million (2nd largest export market)
Brazil: $778 million
Netherlands: $616 million
Russia: $577 million
Government officials and pharma groups are also targeting increased exports to the UK, especially following a new free trade agreement. Indian manufacturers are eyeing a significant boost in generic drug and API procurement by the UK’s National Health Service.
However, industry sources stress that while new markets offer growth potential—possibly up to 20% higher exports—they cannot fully substitute the revenue generated from the US market, which will remain crucial.
India plans to address regulatory challenges in these markets at the upcoming International Pharmaceutical Exhibition in New Delhi, which will be attended by global regulators and stakeholders.
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