GUWAHATI: India exported drugs and pharmaceuticals worth $11.9 billion between April and August 2024, marking an 8.1% increase compared to the same time period last year. This surge has turned the sector into India's fourth-largest export category, up from sixth place in 2023, surpassing gems, jewellery, and chemicals.
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Overall, India’s exports for the first five months of fiscal year 2024-25 stood at $178.7 billion, slightly higher than the $176.7 billion recorded in the same period last year, according to the data released on September 17.
This rise in exports is attributed to the government's production-linked incentive schemes, which have also boosted electronic goods exports.
Non-gems and jewellery, and non-petroleum trade grew 5.3%, outpacing the overall trade growth of 1.1%. This increasing importance of sectors like pharmaceuticals and electronics highlights a shift in India’s export composition, driving growth in core export categories.