As we know, India boasts one of the oldest medical systems in the world. It's referred to as Ayurveda (Ayurvedic medicine). In India, it has changed over thousands of years. Often referred to as the "pharmacy of the world," India's rapidly expanding pharmaceutical industry manufactures a broad variety of both branded and generic drugs. There is a huge opportunity to export these life-saving goods.
As per Indian medicine export data, India's exports of medications and pharmaceuticals climbed by 9.67%, or USD 27.9 billion, in 2023–24, despite a 3% decline in total exports during the previous fiscal year. However, to export medicines from India, you need to gain current and actual insights on medicine export from India, market trends, etc. Today, in this blog, we will explore the list of medicines exported from India and the HS codes of the top medicine exporters.
So, let’s start with the export of medicines from India!
India has the rare advantage of having several recognized medical systems in this field. They are yoga, naturopathy, homeopathy, Siddha, Unani, and Ayurveda. India has undoubtedly earned the moniker "Pharmacy of the World.". Due to several strong reasons, exporting medications from India has become a very lucrative business:
Did you know? India's pharma exports rise 10% to USD 27.9 billion in FY24
Despite a 3% decline in overall exports in the most recent fiscal year, the nation's pharmaceutical and medicine exports rose to USD 27.9 billion in 2023–2024, 9.67% more than the previous year. Pharmaceutical exports reached USD 2.8 billion in March, up 12.73 percent, according to data on medicine exports.
The exports were valued at USD 25.4 billion in 2022–2023. The US, UK, Netherlands, UK, South Africa, and Brazil were the top five export destinations for the sector in the most recent fiscal year.
The government has launched two production-linked incentive (PLI) programs to encourage home production of generic medications and essential pharmaceutical ingredients.
Also read: How to export herbal products from India?
India is a prominent player in the pharmaceutical sector worldwide, especially in relation to the development of generic drugs. The nation exports a wide range of medications, although some types command a premium price. Here is the list of medicine export from India.
Other medicine export from India include: OTC medications, generics, APIs, vaccines, biosimilars, and custom research manufacturing (CRM), which are important sectors of the Indian pharmaceutical industry.
When it comes to the export of vaccines such as DPT, BCG, and measles, India leads the globe. It also boasts the most plants approved by the US FDA that are not in the country.
The export of Ayurvedic medications has increased recently in India, the country where Ayurveda originated. Here is the list of ayurvedic medicine export from India.
Thus, these best ayurvedic herbs are but a tiny portion of the many and diverse medicinal plants that India has to offer to people all over the world. Additionally, Seair Exim Solutions can help, whether you're seeking importers of herbal items or an Indian herb exporter!
In the development of generic medications for a variety of therapeutic indications, India leads the world. Here is the list of medicine export from India
Would you like to focus on the list of medicine export from India or explore other aspects of generic medicine exports from India or the export of medicines ? Seair Exim Solutions is the best platform to analyze insights on medicines export from India, top medicine exporters in India, or medicine HS codes.
Now, its time to analyze the top 10 medicine exporting countries!
Here is the updated table for global medicine exporters!
|
S.no |
Medicine Exporting Countries (2024) |
Medicine Export Data (2024) |
| 1 | Germany | $67.4 billion |
| 2 | Switzerland | $46 billion |
| 3 | Belgium | $37.59 billion |
| 4 | Italy | $37.55 billion |
| 5 | United States | $34.5 billion |
| 6 | France | $27.1 billion |
| 7 | Ireland | $25.8 billion |
| 8 | United Kingdom | $19.4 billion |
| 9 | India | $19.2 billion |
| 10 | Slovenia | $18.68 billion |
So, Germany is considered the largest exporter of medicine, with an export value of $67.4 billion. Switzerland, Italy, and Belgium are some of the biggest exporters of medicines. However, if you are looking for export of medicines, a top medicine exporter in India, a medicine HS code, or updated insights on medicine exports from India, connect with Seair Exim Solutions and gain real-time global trade data.
A quick overview of India's top export destinations for medications can be found in the table below.
|
Rank
|
Country | Region |
| 1 | United States | North America |
| 2 | United Kingdom | Europe |
| 3 | South Africa | Africa |
| 4 | Russia | Europe |
| 5 | Canada | North America |
| 6 | Australia | Oceania |
| 7 | Brazil | South America |
| 8 | Mexico | North America |
| 9 | Nigeria | Africa |
| 10 | Kenya | Africa |
So, India's top five export destinations are the United States, the United Kingdom, South Africa, Russia, and Nigeria.
Also, India is a supplier of pharmaceuticals to the Middle East, Asia, CIS, North America, Africa, the EU, ASEAN, Latin America & Caribbean (LAC), and other parts of Europe. Almost three-quarters of India's exports are sent to Africa, Europe, and NAFTA.
During 2021–2022, the USA, the UK, and Russia rank among the top importers from India, accounting for 29%, 3%, and 2.4% of total imports, respectively.
Let’s explore the list of the top medicine exporters in India!
Here is the list of major medicines exporters in India.
Thus, Elkos Healthcare Pvt. Ltd. is the biggest exporter of medicines or the largest medicine export company in India. Visit Seair Exim Solution to look through an extensive list of Indian suppliers and exporters of medicines.
Also Read: Pharma export and market data 2023
Medicines are one of India's major exports, and the sector is expanding quickly. Ayurvedic medicines, generic medicines, and antipsychotics are among the most frequently exported medicines from India.
First, be aware of the main paperwork required for exporting your medications abroad:
There are several mandatory documents that are needed to export medications from India. These can change based on the kind of medication, the country of destination, and the mode of transportation. Nonetheless, the following is a broad selection of crucial documents:
There are a few steps you must take to get started if you want to export pharmaceuticals from India.
First, you need to apply for an IEC code number, as it is necessary in order to clear customs. This code is needed by customs officials to approve the shipments. It guarantees that products meet legal requirements.
Only registered pharmaceutical companies are allowed to export medicines from India, in accordance with our foreign trade policy. As a result, the business must register with the Director-General of Foreign Trade and apply for an import export code.
Businesses need to assess and formally register their goods in the country from which they are importing in order to prevent problems down the road.
They have to get clearance from India's drug controller general after receiving it from the importing country. This is crucial since drugs and pharmaceuticals are important products that have the potential to negatively impact consumers' general health and well-being.
It's crucial to conduct research and find possible buyers for your pharmaceutical items before you begin exporting. You can accomplish this by going to trade exhibits, making connections with people in the business, and doing research on websites such as Seair Exim Solutions.
In order to export medicines from India, you will need to obtain the necessary licenses and certifications. These requirements vary depending on the type of medicine you are exporting. Some of the major documents include:
You can ensure the seamless delivery of your medications to foreign markets and simplify the export procedure by meticulously compiling and submitting the required paperwork. To understand the insights on medicine export from India, medicine HS code, or medicine exporters list in India, connect with Seair Exim Solutions anytime.
To find the top medicine importers or the list of medicine exporters in India, you must visit our data-driven platform, Seair Exim Solutions. On our platform, traders can quickly analyze market insights for 130+ countries.
Our platform provides buyers & suppliers with a list of medicine export from India, medicine export data, product-wise HS codes, and much more.
So, India has enormous profit potential when it comes to exporting medications. According to experts, the pharmaceutical industry in India could surpass USD 130 billion by 2030. India's production efficiency, wide range of products, and expanding research and development capacities make it a promising market to tap into the increasing demand worldwide for reasonably priced, superior healthcare solutions.
However, if you have any queries related to medicine exports from India, the export of medicines, or need specific country data, connect with our data experts and schedule a free live demo today.
Q1. Which country imports medicine from India?
Based on medicine export data, India's top five export destinations are the United States, the United Kingdom, South Africa, Russia, and Nigeria
Q2. Can we export medicines from India?
Yes, you can easily export medicines from India, but you need to obtain some essential documents and licenses. Also, traders can gain some insights on medicine exports from India or medicine HS codes.
Q3. How to export medicine from India to the USA?
There are several documents needed to export medicine from India to the USA. Some of them are: Import Export Code (IEC), drug license, certificate of license, accurate medicine export data, medicines exporter data, and HS codes.
Q4. Which medicine is most exported from India?
When it comes to the exports, list of medicine export from India such as DPT, BCG, and measles, India leads the globe. However, there are are several significant medicines, such as: analgesic & anti-inflammatory, antispasmodic analgesics, diuretics & anti-diuretics and pro-kinetics & gut relaxants
Q5. How can I export medicine from India to Africa?
There are several conditions for the export of medicines from India to Africa, but traders need to obtain licenses, documents, and some market information before exporting medicines from India to Africa.
Q6. What is the rank of India in medicine exports?
Based on medicine exporter data, India is the fourteenth largest country in the world in terms of value and third in terms of volume.
Q7. Which country is the top 10 exporter of medicine?
Germany is considered the largest medicine exporter in the world. If you are looking for updated insights on the list of medicine export from India and ayurvedic medicine export from India, connect with our dashboard today.
Q8. Who is the largest exporter of medicine in India?
Elkos Healthcare Pvt. Ltd. is the top medicine exporter in India. However, if you need an updated list of medicines exporters in India, visit our platform and analyze global insights.
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