The implementation of "One Belt And One Road" initiative brings both opportunities and challenges for China to strengthen the pharmaceutical trade cooperation with India. Based on the data of pharmaceutical products trade from 2001 to 2018, this paper examines the pharmaceutical trade competition between China and India, establishes an expanded trade gravity model between China and countries along the "One Belt And One Road" Initiative, and measures the export potential of Chinese pharmaceutical products to India. The results show that China's pharmaceutical trade volume to India is positively affected by GDP of the two countries, Indian population and language, and negatively affected by distance. China's pharmaceutical export trade potential to India as a whole belongs to "potential reshape" type. It is urgent need for the two countries to further strengthen trade cooperation in pharmaceutical products in the context of the global spread of Covid-19 pandemic. Finally, the countermeasures and suggestions to promote the development of China-India pharmaceutical trade are put forward.