The Pharmacy
of the World

From $14 billion to $31 billion in twelve years — affordable medicine reaching patients in 200+ countries.

$31B
Pharma exports · FY 2025–26

Source: DGCIS India · FY 2025–26 (April 2025 – March 2026)

Pharmaceutical medicine

$14 Billion to $31 Billion in Twelve Years

DGCIS India, 487 pharma HS codes, FY 2014–15 to 2025–26

How the Basket Changed

India moved from intermediates toward finished, higher-value medicine. Vaccines emerged as a new pillar that did not exist at scale in 2015.

FY 2015$13.8B
74%
21%
FY 2026$31.0B
74%
16%
5%
Medicines
Ingredients
Vaccines
Surgical
Traditional
21% → 16%
Ingredients share
0% → 5%
Vaccines (new pillar)
+124%
Total growth
$1.55B
Vaccines: the new pillar. From near-zero to $1.55 billion in four years. COVID-era capacity repurposed for routine immunisation worldwide — India is the world's largest vaccine maker by volume.

DGCIS India, 487 pharma HS codes. FY 2015 = Apr 2014–Mar 2015; FY 2026 = Apr 2025–Mar 2026. Vaccine category appears from FY 2023.