Business
Indian Pharma Exports Up Over 9% In 2024-25: Govt
New Delhi: India’s pharmaceutical exports stood at $30.47 billion in 2024–25, registering a growth of 9.4 per cent over the previous year, supported by a strong manufacturing base and expanding global outreach, Commerce Secretary Rajesh Agrawal said on Wednesday.
Inaugurating a one-day Regional Chintan Shivir on Pharmaceutical Exports, the Commerce Secretary highlighted that India’s domestic pharmaceutical market is currently estimated at around $60 billion. The market is expected to double to approximately $130 billion by 2030, reflecting the sector’s scale, depth, and innovation potential, he added.
The Commerce Secretary underlined that India is today the world’s third-largest pharmaceutical producer by volume and fourteenth by value, with more than 3,000 companies, 10,500 manufacturing units and over 60,000 generic brands across 60 therapeutic areas.
Indian medicines reach over 200 markets worldwide, with more than 60 per cent of exports going to stringent regulatory destinations. The United States accounts for about 34 per cent, while Europe accounts for around 19 per cent of India’s pharmaceutical exports. These strengths, combined with India’s role as a reliable supplier of quality-assured and affordable medicines, were recognised as a strong foundation for the next phase of export growth.
Deliberations during the Chintan Shivir focused on sensitising exporters, especially MSMEs, to India’s evolving international trade and cooperation framework, and on strengthening industry awareness of policy, regulatory and capacity-building initiatives relevant to pharmaceutical exports.
Discussions centred on the identification of non-tariff barriers and regulatory challenges, expansion of regulatory cooperation and mutual recognition mechanisms to enable faster and more predictable approvals, and building a robust life sciences innovation ecosystem encompassing research and development, clinical trials, biologics, vaccines and biosimilars.
The Commerce Secretary also underlined the vision of Prime Minister Narendra Modi to position India as a trusted global trade partner and to expand India’s share in global pharmaceutical trade, thereby enabling wider access to quality and affordable healthcare across the world.
Participants were apprised of recent developments in India’s international trade framework, including the India–UK Comprehensive Economic and Trade Agreement (CETA) signed on July 24, 2025, and the India–European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA), which became effective on October 1, 2025.
Business
Budget eases PF, ESI deduction rules for employers, allows relief for delayed deposits – The Times of India
In a move expected to bring relief to employers and reduce routine tax disallowances, the finance bill has proposed a key change to the treatment of employees’ provident fund (PF), ESI and similar contributions, allowing deductions even where there is a delay in deposit, provided the amount is deposited by the employer entity with the relevant welfare fund authorities before the due date of its Income-tax return.At present, employers can claim deduction for employees’ PF and ESI contributions only if the amounts are deposited within the strict timelines prescribed under the respective welfare laws. Even a minor delay permanently disqualifies the expense for tax purposes, a position that had been settled by the Supreme Court (SC) after years of litigationUnder the proposed amendment to Section 29 of the Income-tax Act, 2025, the definition of “due date” for claiming deduction of employees’ contributions is set to be aligned with the due date for filing the income-tax return by the employer entity.Explaining the shift, Deepak Joshi, a SC advocate said employers are currently held to a rigid standard. “The law, as interpreted by the SC, meant that if employee contributions were not deposited within the due date under the relevant welfare fund laws, no deduction was allowed — even if the payment was made before filing the income-tax return,” he said.“The proposed amendment substitutes the definition of ‘due date’ to mean the due date of filing the income-tax return. The positive impact is that even if there is a slight delay in depositing employees’ contributions, so long as the amount is deposited before the return-filing deadline, the employer will be allowed the deduction,” Joshi added. Experts view the move as part of the government’s broader effort to soften compliance rigidities and reduce avoidable litigation.
Baby boxes are being delivered to expectant families in some of Wales’ most deprived areas.
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Budget eases PF, ESI deduction rules for employers, allows relief for delayed deposits – The Times of India
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