Pharma exports rose 2% to over $31 billion in FY26 despite sharp decline in March

India’s pharmaceutical exports rose more than 2% year on year to $31.11 billion in FY26 despite a 23% decline in March amid the fallout of the West Asia war.

A new record, the exports bettered the $30.47 billion registered in 2024-25. March incidentially had played a crucial role in shaping the overall FY25 performance as shipments to the all important U.S. market surged in the face of an impending higher tariff regime.