India’s pharmaceutical industry has become a significant global player, ranking third in volume and 11th in value worldwide. With over 3,000 companies and 10,500 manufacturing units, the sector is valued at $60 billion and is projected to reach $130 billion by 2030. The industry’s annual turnover in FY25 stood at Rs. 4.72 lakh crore, with exports growing steadily at a rate of 7 percent over the last decade.
The country serves as the largest global supplier of generic medicines, producing approximately 60,000 generic brands across 60 therapeutic categories, representing about 20 percent of the global supply. India’s strong manufacturing capabilities, increasing exports, foreign investments, and government support have bolstered domestic production, reduced import reliance, and expanded its global market presence.
Recent trade agreements with the European Union, the United Kingdom, and New Zealand are expected to further enhance India’s pharmaceutical and medical devices sector. These agreements aim to broaden market access and strengthen global trade connections, positioning India’s pharmaceutical industry for sustained growth and international engagement. India also boasts the highest number of manufacturing plants approved by the USFDA outside the US, underscoring global trust in the quality and safety of Indian pharmaceuticals.
The country is a key player in vaccine manufacturing, supplying a significant portion of vaccines globally. Indian manufacturers contribute about 60 percent of vaccine supplies to UNICEF, meet a substantial portion of global demand for DPT and BCG vaccines, and fulfill 90 percent of the WHO’s measles vaccine requirements. This underscores the vital role of Indian pharmaceutical exports in global healthcare supply chains, with pharmaceutical exports reaching $30.5 billion in 2024-25, marking a significant increase from $1.9 billion in 2000-01.
