India targets new markets for pharma export growth amid US tariffs concerns

Exports to the Netherlands and Russia stood at $616 million and $577 million, respectively, in fiscal 2025, according to government data. With the existing manufacturing capacity of Indian drugmakers, there is potential to increase exports to newer markets by 20%, the sources noted. However, newer markets cannot substitute revenue from the U.S., which will always be crucial for India, the sources said, adding that the aim was to "identify additional markets for growth". India hopes to discuss regulatory challenges in these markets at the upcoming International Pharmaceutical Exhibition in New Delhi, which will also be attended by global regulatory stakeholders, they added. "We cannot increase exports overnight... so there will be discussions on regulatory challenges in these countries," the first source said.