India, a global pharmaceutical powerhouse, excels in the export of generic medicines. Recognized for its robust production of high-quality, affordable drugs, India dominates the international pharmaceutical scene with a staggering $50 billion valuation [1]. Serving over 200 countries, it proudly leads as the largest supplier of generics, offering a diverse portfolio of 60,000 brands across 60 therapeutic categories [1]. The industry’s commitment to excellence is evident through numerous USFDA-approved facilities, ensuring top-notch quality and compliance.
The Indian Pharmaceuticals industry holds a significant position globally, ranking 3rd in pharmaceutical production by volume and 14th by value. It is a major player in the generic medicines market, contributing 20% to global supply by volume. Additionally, India is the leading global vaccine manufacturer, commanding a substantial 60% market share. Despite global disruptions and a decline in demand for COVID-19 treatments, pharmaceutical exports have shown resilience with positive growth.
The cumulative Foreign Direct Investment (FDI) in the pharmaceutical sector surpassed the US$ 20 billion mark by September 2022. The domestic pharmaceutical market in India was valued at US$ 41 billion in 2021, projected to reach US$ 65 billion by 2024, and further expected to grow to US$ 130 billion by 2030 [2].