Progress of India's Pharmaceutical Industry & Diverse Export Markets
How India emerged as the Pharmacy of the World and where its pharma exports go.
India has the potential to emerge as a net exporter of Active Pharmaceutical Ingredients (APIs) with government backing, allowing private entities to establish API plants and cater to nations reliant on imports.
Indian pharma industry is hailed as the Pharmacy of the World for its provision of cost-effective, high-quality generic drugs worldwide.
Generic drugs account for 71% of India's pharmaceutical exports, with North America as the primary importer.
In FY 2023, India exported pharmaceuticals worth over 25 billion U.S. dollars.
Sales of India's domestic pharmaceutical sector expected to grow 8–10% in FY 2023-24, driven by both domestic expansion and increased exports.
India exports pharmaceutical products to various regions, including North America, Africa, EU, ASEAN, Latin America, and the Middle East.
Government schemes aim to bolster infrastructure facilities with a financial outlay of Rs. 500 crores.
Schemes like the Production Linked Incentive aim to boost investment and production in the pharmaceutical sector.
Initiatives like PPDS and PTUAS support the promotion and development of the Indian pharmaceutical industry.
The Road Ahead
India's medical expenditure is projected to surge by 9-12% in the next five years, positioning the nation among the top 10 globally. With government backing, India is poised to become a net exporter of Active Pharmaceutical Ingredients (APIs). The pharmaceutical industry is anticipated to reach US$ 64 billion by 2024 and US$ 130 billion by 2030, propelled by advancements in skill development, technology integration, and supply chain improvements.
From India to the World
Pharmgenity supports global importers and exporters with quality APIs, excipients, and finished formulations.
We Have Answers
Quick answers about India's pharma export story, the markets it serves, and its growth outlook.
India is described as the Pharmacy of the World because its pharma industry provides cost-effective, high-quality generic drugs to markets across the globe.
In FY 2023, India exported pharmaceuticals worth over USD 25 billion, with generic drugs accounting for about 71% of these exports.
India exports pharmaceutical products to North America, Africa, the EU, ASEAN, Latin America, and the Middle East, with North America as the primary importer.
Government schemes aim to strengthen infrastructure facilities with a financial outlay of Rs. 500 crores, and initiatives like the Production Linked Incentive, PPDS, and PTUAS support investment, production, and industry promotion.
The pharmaceutical industry is anticipated to reach US$ 64 billion by 2024 and US$ 130 billion by 2030, driven by skill development, technology integration, and supply chain improvements.
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