India pharma sector to miss 2030 sales target amid tariff and shipping woes, trade body says

U.S. President Donald Trump said last month all imported generic drugs would continue to face a 0% tariff for two years from August 1, after which the rate would rise to 100% for one year and 200% thereafter.

India's pharmaceutical shipments to the United States fell to about $9.7 billion in the financial year ended March 2026 from roughly $10.5 billion a year earlier, Joshi said, even as overall pharma exports rose 2.13%, helped by demand from Brazil and Europe.

Joshi said annual industry growth could stay at 6% to 10% over the next three years before moving into double digits as higher-value products such as biosimilars and peptides gain ground.

Rebuilding a manufacturing base in the United States would take at least five years to establish a complete supply chain, Joshi said, adding that Indian drugmakers would be unable to absorb steep tariffs.