India offers quality, continuity and affordability in healthcare supply chains | Photo Credit: HRAUN

The Indian pharmaceutical industry has grown from about $20 billion in 2014 to nearly $60 billion in 2026, and is expected to touch $130 billion by 2030, with exports alone looking to clock $50 billion, said Mohit Yadav, Joint Secretary, Department of Commerce.

Highlighting India’s export trajectory, growing market diversification and deepening trade relations with key partner countries, he said, the Government was working closely with industry to strengthen export capabilities, improve competitiveness and support India’s transition from volume-led exports to value-led exports. He was speaking at an outreach programme organised by the  Department of Commerce at the Pharmaceuticals Export Promotion Council of India (Pharmexcil) centre in Mumbai.

India’s affordability remains India’s defining strength, he said, pointing to Indian generic medicines that had contributed to making medicines accessible across the world. India is the third-largest producer of pharmaceuticals by volume, supplies around 20 per cent of global generic medicines demand, and exports pharmaceutical products to more than 200 countries and more than 60 per cent of India’s pharmaceutical exports go to stringently regulated markets, he pointed out in a statement.

As the world seeks quality, continuity and affordability in healthcare supply chains, he said, India offered all three. “Quality is reflected in India’s strong regulatory footprint, including about 1,000 US FDA-registered sites, the highest number outside the US. Continuity is reflected in India’s ability to deliver medicines during disruption, including during the pandemic and recent geopolitical challenges. Affordability is reflected in the global reach of Indian generics,” he added.

State role

Further, he pointed out that Maharashtra held a special place in India’s pharmaceutical journey – with Mumbai, Pune, Chhatrapati Sambhajinagar, Tarapur and nearby clusters emerging as important centres of pharmaceutical manufacturing, research, exports and skilled talent. “Maharashtra’s pharmaceutical industry employs more than 200,000 people, including pharmacists, scientists and skilled manufacturing workers, and remains a major contributor to India’s pharma production and exports,” he said.

The official also pointed to Biopharma SHAKTI and the proposed outlay of ₹10,000 crore over five years – to pitch India as a global biopharmaceutical manufacturing hub. He further pointed to India’s emergence as a hub for pharmaceutical knowledge services. Multinational pharmaceutical companies are increasingly establishing Global Capability Centres in India, employing more than 100,000 professionals and attracting investments of over $1 billion, he said. These centres support analytics, clinical operations, regulatory science, pharmacovigilance, digital health and research, he added.

The Joint Secretary pointed to India’s trade agreements and ongoing engagements with partners such as the United Arab Emirates, Australia, the UK, the European Union, EFTA, the Sultanate of Oman and New Zealand – that are expected to support market access, regulatory cooperation, investment partnerships and technology collaboration. The India-EFTA Trade and Economic Partnership Agreement, backed by a commitment of $100 billion in investment over 15 years, offers further possibilities in life sciences, research, manufacturing and advanced health technologies, he said.

The next phase of growth will be defined by India’s movement from volume to value, he said. “Generics will remain the foundation of the sector, while future growth will increasingly be shaped by biosimilars, biologics, gene therapies, specialty medicines, vaccines, complex generics, contract manufacturing, medical devices and greater self-reliance in Active Pharmaceutical Ingredients and Key Starting Materials.”

Published on June 10, 2026