India's pharma exports to UK set to rise over $981 M in FY27

The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has projected that India's pharmaceutical exports to the United Kingdom will grow by 8.66% to reach $981.16 million in FY2026-27, following the implementation of the India-UK Comprehensive Economic and Trade Agreement (CETA).

The projection builds on the robust export performance of $902.96 million in FY2025-26 and is supported by strong momentum in the current financial year. During April-May FY2026-27, pharmaceutical exports to the UK increased 4.15% year-on-year to $152.14 million, compared with $146.08 million during the corresponding period last year.

Pharmexcil projects the India-UK FTA is expected to significantly strengthen bilateral pharmaceutical trade by improving market access for Indian exporters.

The agreement paves the way for zero tariffs on nearly all products, enhancing the competitiveness of India's generic medicines in the UK market. It is also expected to strengthen pharmaceutical supply chains, improve access to affordable medicines, encourage greater foreign direct investment (FDI), and foster deeper collaboration between Indian and UK pharmaceutical companies in manufacturing, research and innovation.

India continues to maintain a strong pharmaceutical trade surplus with the UK, which widened to approximately $767.49 million in FY2025-26. Drug formulations and biologicals remain the largest export segment, accounting for 89.54% of India's pharmaceutical exports to the UK. In addition, exports of APIs and bulk drugs reached $72.66 million during the last fiscal year, underlining the UK's growing reliance on India's high-quality pharmaceutical manufacturing ecosystem.