New Delhi: India’s pharmaceutical sector has grown into a globally integrated and policy-driven industry, now ranking third in the world by volume and 11th by value, according to an official factsheet released on Saturday.
With over 3,000 companies and 10,500 manufacturing units, the industry continues to expand rapidly. The domestic market, currently valued at around $60 billion, is projected to more than double to $130 billion by 2030.
As highlighted in the Economic Survey 2025-26, the sector recorded an annual turnover of ₹4.72 lakh crore in FY25, while exports have grown at a steady 7% CAGR over the past decade.
India has also established itself as the world’s largest supplier of generic medicines, contributing nearly 20% of global supply and producing around 60,000 generic brands across 60 therapeutic categories. This strength is backed by robust manufacturing capabilities, increasing foreign investment, and targeted government initiatives aimed at boosting domestic production and reducing import dependence.
Policy efforts promoting affordability, innovation, and quality standards have further strengthened both public health outcomes and global trust in Indian medicines. Additionally, trade agreements with regions like the European Union, the United Kingdom, and New Zealand are expected to open up new opportunities and deepen global market access.
India’s credibility is further reinforced by the fact that it has the highest number of USFDA-approved manufacturing plants outside the United States, ensuring international confidence in its pharmaceutical standards.
The country is also a key player in the active pharmaceutical ingredient (API) segment, with around 500 manufacturers contributing nearly 8% of the global API market.
In vaccines, India has taken a leadership role, supplying large volumes of critical immunisations such as DPT, BCG, and measles. Indian manufacturers provide about 60% of vaccines to UNICEF and meet a significant share of global demand, including up to 90% of measles vaccines for the World Health Organization.
Pharmaceutical exports have also seen remarkable growth, reaching $30.5 billion in 2024-25, a sharp rise from just $1.9 billion in 2000-01.
Overall, India’s pharmaceutical industry is steadily strengthening its position in global healthcare, driven by scale, affordability, and increasing international integration.
With inputs from IANS