Blitz Bureau
NEW DELHI: India’s pharmaceutical industry has evolved into a globally integrated and policy-supported system, ranking third globally by volume with more than 3,000 companies and 10,500 manufacturing units, an official factsheet showed on March 21. The domestic pharmaceutical market, valued at $60 billion, is projected to reach $130 billion by 2030.
According to the Economic Survey 2025-26, in FY25, the sector’s annual turnover reached Rs. 4.72 lakh crore, with exports growing at a CAGR of 7 per cent over the last decade (FY15 to FY25). “India is the largest global supplier of generic medicines, accounting for around 20 per cent of global supply, manufacturing about 60,000 generic brands across 60 therapeutic categories,” according to the fact sheet.
Strong manufacturing capabilities, rising exports, growing foreign investment, and targeted government schemes have collectively strengthened domestic production, reduced import dependence, and expanded global market presence.
At the same time, initiatives promoting affordable access, innovation, quality assurance, and regulatory oversight have reinforced public health outcomes and international confidence. Moreover, the proposed and recently concluded trade agreements with the European Union, the United Kingdom, and New Zealand are expected to further strengthen India’s pharmaceutical and medical devices sector.
