India Seeks New Markets for Pharma as U.S. Tariff Risks Grow
India is looking to expand its pharmaceutical exports to Russia, Brazil, and the Netherlands as a safeguard against possible U.S. tariff measures. The U.S. remains India’s largest market, accounting for nearly US$10.5 billion in exports in fiscal 2025, but growing trade tensions have pushed New Delhi to diversify its export destinations.
Export Numbers and Growth Potential
The United Kingdom is currently India’s second-largest pharma export market, worth about US$914 million. Brazil follows with US$778 million, the Netherlands at US$616 million, and Russia at US$577 million. Industry estimates suggest these markets could see export growth of up to 20% in the coming years. However, experts caution that while they present opportunities, they cannot fully replace the scale and profitability of the U.S. market.
Addressing Regulatory Challenges
To boost exports, India is working on reducing regulatory barriers in these countries. The upcoming International Pharmaceutical Exhibition in New Delhi is expected to provide a platform for discussions with global stakeholders. Additionally, India anticipates higher procurement by the UK’s National Health Service following progress on a free trade agreement, which could strengthen its presence in the European market.
