India’s Pharma Sector Emerges as Global Powerhouse, Set for Strong Growth by 2030

New Delhi | March 21, 2026 India’s pharmaceutical industry has evolved into a globally connected and policy-driven sector, now ranking third in the world by volume and 11th by value, according to an official factsheet released on Saturday. The sector’s steady rise reflects its expanding manufacturing strength, growing exports, and increasing global trust in Indian medicines. The industry currently includes more than 3,000 companies and over 10,500 manufacturing units, highlighting its large-scale operations. India’s domestic pharmaceutical market, valued at around $60 billion today, is expected to more than double and reach $130 billion by 2030. As per the Economic Survey 2025–26, the sector recorded a turnover of ₹4.72 lakh crore in FY25, while exports have grown at a compound annual growth rate of 7 per cent over the past decade. India continues to play a key role in global healthcare as the largest supplier of generic medicines, contributing nearly 20 per cent of the world’s supply. The country produces around 60,000 generic brands across 60 therapeutic categories. Growth in the sector has been supported by strong production capabilities, rising foreign investment, and focused government initiatives aimed at reducing import dependence and boosting exports. In addition, India has the highest number of manufacturing plants approved by the United States Food and Drug Administration outside the US, reinforcing confidence in the quality and safety of its pharmaceutical products. The country also has around 500 active pharmaceutical ingredient (API) manufacturers, contributing nearly 8 per cent to the global API market. India’s leadership is equally strong in the vaccine segment. It supplies 40–70 per cent of global demand for DPT and BCG vaccines and accounts for 90 per cent of the World Health Organization’s measles vaccine requirements. Indian companies also provide nearly 60 per cent of vaccines to UNICEF, further strengthening the country’s global role. Pharmaceutical exports reached $30.5 billion in 2024–25, marking a sharp rise from $1.9 billion in 2000–01. Upcoming and proposed trade agreements with regions such as the European Union, the United Kingdom, and New Zealand are expected to further enhance market access and drive future growth in the pharmaceutical and medical devices sector. India’s Pharma Industry Gains Global Strength, Eyes Major Growth by 2030 India’s pharmaceutical sector has become a globally integrated and policy-supported industry, ranking third in the world by volume and 11th by value, according to an official factsheet. The country’s domestic pharma market, currently valued at $60 billion, is projected to grow significantly and reach $130 billion by 2030. The industry comprises over 3,000 companies and more than 10,500 manufacturing units, reflecting its large production capacity. As per the Economic Survey 2025–26, the sector recorded a turnover of ₹4.72 lakh crore in FY25, while exports have grown steadily at a 7 per cent annual rate over the past decade. India continues to lead globally in generic medicines, supplying nearly 20 per cent of the world’s demand and producing around 60,000 generic brands. Strong manufacturing capabilities, government support, and rising investments have helped expand its global presence while reducing dependence on imports. The country also plays a crucial role in vaccine supply, meeting a major share of global demand. With exports reaching $30.5 billion in 2024–25 and new trade agreements on the horizon, India’s pharmaceutical sector is set to strengthen its position further in the global healthcare ecosystem.