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Exports of drugs and pharmaceuticals from India have declined almost 1.5 per cent during the month of February, 2025 year-over-year (YoY) as compared to a growth of 21.46 per cent YoY in the previous month. Imports registered a 6.85 per cent growth compared to the same month last year.
According to data from the ministry of commerce and industry, exports of drugs and pharmaceuticals during the month of February stood at $2.47 billion during the month, as compared to $2.51 billion in the corresponding month, last year.
For the 11 months of the current fiscal year, from April, 2024 to February, 2025, exports in the sector reported a 6.95 per cent growth at $26.79 billion as compared to $25.05 billion in the same period of previous fiscal year.
In Rupee terms, the growth during the month of February was 3.34 per cent at Rs. 21,539 crore as compared to Rs. 20,843 crore during the same month last year. For the 11 months of the fiscal year, the growth is 9.04 per cent at Rs. 2,26,092 crore as against Rs. 2,07,340 crore registered in the same period a year ago.
Imports of medicinal and pharmaceutical products, on the other hand, has registered a 6.58 per cent growth in US Dollar terms to $704.55 million in February, 2025, as against $661.06 million during the same month last year.
For the 11 months ended February, 2025, the imports grew 8.34 per cent, at $8.19 billion, compared to $8.03 billion in the corresponding period a year ago.
In Rupee terms, the imports registered a 11.84 per cent growth to Rs. 6,133 crore during the month compared to Rs. 5,484 crore in the same month last year. For the first 11 months of the current fiscal, the imports in Rupee terms grew 10.46 per cent to Rs. 69,153 crore as against Rs. 62,605 crore during the same period of last year.
It may be noted that the decline in exports during February follows a highest monthly growth during the fiscal year, of 21.46 per cent on a YoY basis during January.
Data shows that exports of drugs and pharmaceuticals during the month of January stood at $2.59 billion during the month, as compared to $2.13 billion in the corresponding month, last year.
This was the highest growth in terms of percentage during the current fiscal, followed by 10.45 per cent growth reported in May and 10 per cent registered in June, this year. It may also be noted that the growth was low at 0.63 per cent in the preceding month of December and 1.12 per cent in November, 2024.
The Economic Survey for 2024-25, released at the end of January, this year, has mentioned drugs and pharmaceuticals as one of the sectors that reported growth in exports. It has also mentioned the sector, along with automobiles and electronics, as growth drivers during the fiscal year.
As reported earlier, exports of drugs and pharmaceuticals during the month of December, 2024 reported a meagre 0.63 per cent growth to $2.49 billion compared to $2.47 billion reported in the same period of previous year.
Exports during the month of November, 2024, stood at $2.16 billion, as compared to $2.14 billion registered in the same month of last year, while the growth was 8.21 per cent in the month of October, 7.22 per cent in September, 4.67 per cent in August, 8.36 per cent in July, 10 per cent in June, 10.45 per cent in May and 7.36 per cent in April, 2024.
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