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The 11th edition of iPHEX promises to be a pivotal event for the global pharma industry. With participation from regulators and buyers across NAFTA, EU, Africa, ASEAN, CIS, LAC, and WANA regions, iPHEX 2025 will facilitate deep engagement through contract manufacturing discussions, technology transfers, and bilateral trade collaborations, said K Raja Bhanu, Director General, Pharmaceuticals Export Promotion Council of India (Pharmexcil) in an exclusive interview with Shardul Nautiyal from Pharmabiz. Excerpts:
Please share your vision and mission of 11th edition of iPHEX.
The event will feature a dedicated International Buyers Sellers Meet, a focused exhibition with over 700 stalls with a strong emphasis on research & development and innovation. It will also spotlight India’s leading pharmaceutical exporters—across formulations, biosimilars, bulk drugs, and surgical—who are serving healthcare needs in over 150 countries.
This year, the event expands its scope to include allied segments such as pharmaceutical machinery and Ayush products—broadening its relevance and impact.
iPHEX 2025 will feature Global Regulators Conclave, CEO Roundtable and RBSM fostering crucial discussions and collaborations to achieve these ambitious goals.
The event will include sector-specific sessions, and panel discussions on regulatory harmonization, global market expansion strategies, innovation in manufacturing, and the evolving landscape
of pharma exports.
A dedicated exporters participation at the exhibition, Regulatory Conclave, and Global Buyer Forum will provide opportunities for knowledge-sharing, deal-making, and policy dialogue. Designed to align with India’s ambition of becoming a $65 billion pharma export powerhouse by 2030, summit embodies the spirit of “Powering Healthcare, Connecting Markets”—bringing together industry leaders, global stakeholders & policymakers to drive meaningful collaboration, unlock new trade corridors & elevate India’s role in global healthcare.
The Global Regulatory Conclave will be organized by the Central Drugs Standard Control Organisation (CDSCO), Ministry of Health and Family Welfare, Government of India, jointly with Pharmexcil, and held concurrently with iPHEX 2025. This platform will foster critical regulatory dialogues, strengthen international alignment, and enhance trust in India’s regulatory ecosystem.
Since its inception in 2013, iPHEX has hosted over 5,000 foreign delegates, including regulators and buyers, and featured more than 4,000 Indian exhibitors across key cities like Mumbai, Hyderabad, New Delhi, and Ahmedabad. As a cornerstone of the Brand India Pharma campaign, the exhibition strengthens India’s positioning as the “Pharmacy of the World” by enabling focused B2B meetings, regulatory dialogues, and strategic collaborations across global markets including NAFTA, EU, ASEAN, LAC, Africa, and GCC—driving expanded market access and global confidence in Indian pharmaceutical excellence.
Pharmexcil, which plays a pivotal role in supporting India’s pharmaceutical exports (currently valued at over $30 billion annually), will facilitate B2B meetings, buyer-seller interactions, and global outreach initiatives at the venue. These efforts are intended to foster meaningful cross-border partnerships and open up new commercial avenues.
What is the overall export market scenario and the India advantage as Pharmacy of the World?
Indian pharma industry has carved out a unique distinction in contributing substantially to healthcare through the supply of quality, affordable generic medicines to nearly 200 countries and is popularly called “Pharmacy of the World”. India exported US$ 25.4 billion during FY 22-23. Pharma exports stood at US$ 27.85 billion in FY 2023-24 and US$ 30.47 billion in FY 2024-25.
In exports, NAFTA, Europe, and Africa are the three major regions for pharma exports, together accounting for approximately 70.46 per cent of total exports in April 2025.
NAFTA comprised 39.46 per cent of total exports during April 2025, valued at US$ 981.02 million, reflecting a decline of -5.68 per cent compared to April 2024.
India’s total imports in 2024-25 amounted to US$ 8,188.26 million, with April 2025 imports at US$ 748.56 million. NEA held the largest share at 42.12 per cent with US$ 3,772.84 million, followed by Europe at 38.19 per cent with US$ 2,774.68 million.
The US is India’s largest overseas pharma market, with exports rising 21 per cent from US$ 8.1 billion in FY24 to US$ 9.8 billion in FY25. The latest figures mean 40 per cent of India’s total pharma exports go to the US, remaining a key supplier of affordable medicines to the country.
It is a matter of pride that today more than 52 per cent of Indian exports of medicines is going to European and American markets collectively which talks highly about our resilient value chain and iPHEX will be the most relevant, significant and enterprising platform for all the markets including the CIS and African markets.
In a major development to boost pharma trade between Myanmar and India, Pharmexcil and Myanmar Chamber of Commerce for Pharmaceutical and Medical Device (MCCPMD) have started discussing the possibilities of trade cooperation to fast-track approval for pharmaceutical products in Myanmar.
This iPHEX certainly will help showcase the capabilities of the Indian pharmaceutical industry and also build up confidence among the global stakeholders. This exhibition will offer excellent opportunities to explore business collaboration and technology transfers.
Please share your perspective on Free Trade Agreements (FTAs) with foreign countries to boost pharma trade globally.
The Zero Tariff provisions for generic medicines under the India-UK Free Trade Agreement (FTA) will immensely boost the competitiveness of Indian generics in the UK market, according to trade experts.
UK is India’s largest pharmaceutical export destination in Europe.
India and the UK signed an FTA on July 24, 2025 as part of Prime Minister Narendra Modi’s UK visit. Prime Minister Modi met with British Prime Minister Keir Starmer at the Chequers Estate.
India exports US$ 23.31 billion globally and the UK imports nearly US$ 30 billion, but Indian pharma accounts for under US$ one billion, indicating significant headroom for growth. Number of medical devices like surgical instruments, diagnostic equipment, ECG machines, x-ray systems will not attract any duty.
This will reduce costs for Indian med-tech companies and make their products more competitive in the UK market.
Which are the other markets which need to be focused going forward?
India and Uzbekistan are exploring new avenues of cooperation following a virtual meet. The meeting, attended by officials from Pharmexcil and representatives from the Embassy of the Republic of Uzbekistan in India and the Director of Uzbekistan’s Pharmaceutical Development Agency, discussed potential business opportunities to strengthen bilateral engagements and create a robust partnership in the pharmaceutical and healthcare sectors.
The discussions focused on unlocking the untapped potential of collaboration between Indian and Uzbek pharmaceutical companies. Both parties emphasized the mutual benefits of such partnerships, ranging from increased investment flows to improved healthcare infrastructure and drug accessibility in Uzbekistan.
Another significant agenda item was iPHEX 2025. Both sides agreed to leverage the event to promote B2B partnerships and deepen industry engagement. Uzbekistan’s participation at iPHEX is anticipated to open doors for collaborative innovation, joint manufacturing, and knowledge exchange between Indian and Uzbek
enterprises.
The Consulate of Mexico in Mumbai has joined hands with the Pharmexcil for further collaborations and raise awareness about the Mexican pharmaceutical market, which is increasingly seen as a promising destination for Indian pharmaceutical exports, technology collaborations, and manufacturing partnerships.
This is a welcome development as Mexico has plans to increase by the national content of 15 per cent in global value chains in sectors like pharmaceutical and vaccine production. Vaccines made in Mexico will promote the development of pharmaceutical manufacturing processes and local packaging with emphasis on advanced biotechnology.
In a strategic move to bolster Indian pharmaceutical exports to the Nordic region, the Indian Embassy in Oslo, with the support of the ministry of commerce and industry, Government of India, under the Market Expansion Activity (MEA), has successfully commissioned a detailed study on the pharmaceutical and vaccine procurement landscape in Norway. The findings are expected to guide Indian pharmaceutical exporters in navigating one of Europe’s most regulated and quality-sensitive markets.
The report, released by the Pharmexcil, sheds light on the nuances of Norway’s healthcare procurement system, emphasizing regulatory alignment, early engagement, and market adaptability.
This report provides valuable insights into the Norwegian pharmaceutical landscape, emphasizing the importance of early regulatory engagement, local partnerships, and price-sensitive strategies in alignment with Norway’s healthcare priorities.
What is the way forward for the Indian pharma exports?
The Pharmexcil has reported that pharmaceutical export continued its growth trajectory with US$ 2,475.70 million in May 2025, cumulating to
US$ 4,961.71 million for April-May FY26.
Formulations and biologicals continue to hold the major share of total exports accounting for 75.74 per cent during this period. The second major category by value is bulk drugs and drug intermediates. During May 2025-26 this segment expanded by 4.40 per cent.
Vaccines were the third largest exported category, valued at US$ 190.13 million, experiencing a significant 13.64 per cent increase. Surgicals grew by 8.58 per cent, reaching US$ 124.62 million. Ayush & herbals products saw a 7.36 per cent growth, with a value of US$ 119.89 million.
NAFTA, Europe, Africa and LAC are Pharmexcil’s four major regions for exports. These four regions together account for 76 per cent of total pharma exports. ASEAN (4.88 per cent) was a newly contracted region during this period.
India’s top five countries for pharma exports during May 2025-26 were USA, UK, Brazil, South Africa, and France.
Exports to USA, which account for 34.50 per cent of exports in pharma products, have expanded by 1.50 per cent. Pharma exports to the USA were valued at US$ 1711.75 million during May 2025-26. Europe grew moderately by 3.14 per cent, and Africa by 1.71 per cent.
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