Mumbai, July 8 — Indian pharmaceutical exports to the United States witnessed a dramatic surge in March 2025, increasing by nearly 74 percent to reach $1.56 billion. This spike occurred amid growing speculation over impending US tariffs, prompting exporters to expedite their shipments.
Data from the Pharmaceutical Export Promotion Council (Pharmexcil) shows that the surge in March followed a 71 percent growth over February. However, in April, exports to the US dipped by 17.3 percent, only to recover again in May with a growth of 13.3 percent. Pharmexcil Chairman Namit Joshi attributed this volatility to exporters anticipating tariff hikes and seeking to ship products in advance.
Despite these fluctuations, India’s pharmaceutical sector maintained strong momentum, with exports to the US totaling $10.5 billion in FY25, marking a 20.43 percent year-on-year increase. Joshi noted that while the US remains the largest market for Indian pharma, tariff concerns have pushed companies to explore more complex generics and biosimilars to stay competitive. He added that the trade imbalance—India exports $10.5 billion worth of pharmaceuticals to the US and imports just $833 million—puts India in a strong position to negotiate reciprocal tariff terms, minimizing potential fallout from any future US-imposed duties.