India's Pharmaceutical Exports

Country Profile

Madagascar

Madagascar is a growing market for Indian pharmaceuticals — $41.0M in FY 2025–26, with 3.7× growth over the past decade. Medicines accounts for 93% of shipments, with vaccines contributing $1.23M. The compound annual growth rate since FY2015 stands at 12.7%.

🇲🇬 $41.0M · 3.7× growth since FY2015 · 12.7% CAGR
Single-source profile. All data from DGCIS India export records (fiscal year, April–March).
$41.0M
Exports FY2025–26 DGCIS
3.7×
Growth FY2015→2026
12.7%
CAGR FY2015→2026
93%
Medicines Share
5
Product Categories Supplied
Madagascar is a growing market for Indian pharmaceuticals — $41.0M in FY 2025–26, with 3.7× growth over the past decade. Medicines accounts for 93% of shipments, with vaccines contributing $1.23M. The compound annual growth rate since FY2015 stands at 12.7%.
Export Trend DGCIS FY
Category Mix — FY 2025–26 DGCIS
Medicines $37.9M (92.5%) Vaccines $1.23M (3.0%) Traditional & Herbal $874K (2.1%) Surgical & Hospital Supplies $605K (1.5%) Medicine Ingredients $358K (0.9%)
Top 10 Products — FY 2025–26 DGCIS
Indian Pharma Investment Source: RBI ODI Data

No recorded pharmaceutical sector investment transactions from Indian companies to Madagascar in the RBI overseas direct investment dataset (2011–2026).