India has consolidated its position as a “trusted” global supplier of affordable medicines, with pharmaceutical exports crossing $30.47 billion in 2024-25. The country is currently the world’s third-largest producer by volume and 14th by value. Indian medicines reach over 200 markets, with the US accounting for 34% of exports and Europe making up 19%.
The domestic pharmaceutical market is projected to more than double to $130 billion by 2030 from its current $60 billion level. India’s vast manufacturing base includes over 10,500 units and 60,000 generic brands across 60 therapeutic areas. To maintain this competitiveness, the government is urging the industry to identify and overcome non-tariff barriers and expand mutual recognition agreements with other nations.
A robust life sciences innovation ecosystem is seen as the next major step for the sector. Stakeholders are focused on leveraging these strengths to meet the stringent regulatory requirements of advanced economies while maintaining affordability. Regular brainstorming retreats, like the recent chintan shivir in Chandigarh, are helping to shape the future strategy for global sectoral growth.