This paper analyzes the determinants of trade, trade advantage and trade competitiveness in pharmaceutical industry in India during 2000-2014. Tools such as bivariate correlation coefficient, step-wise regression and multiple regression models were used. The variables such as GDP, Foreign Direct Investment (FDI), Money Supply (M2), Indirect Taxes (IT), Exchange Rate (ER), Population Growth (PG), Real GDP, Per capita GDP and Inflation were used. It was found that the relationship between export, import and total trade with related variables were significant. GDP was the major factor determining the export performance of pharmaceutical industry in India. There was direct relationship between trade openness and money supply and Government Expenditure (GE) was the major factor responsible for the growth of trade balance