From Pharmacy of the World to Pharma Powerhouse: Charting India’s Path to 2047

Known as the "Pharmacy of the World," India’s pharmaceutical industry has been a reliable supplier of affordable, high-standard generic drugs for decades. This reputation has been built on a foundation of cost-effective manufacturing, a skilled workforce, and a robust supply chain catering to global markets. Today, India already exports to over 200 countries, ranking as the third-largest pharmaceutical producer by volume. The industry currently has a market size of $58 billion, comprising $30 billion in exports and $28 billion in domestic consumption, with aspirations to grow to $130 billion by 2030.

By 2047, marking a century of India’s independence, the pharmaceutical sector will be at a transformative crossroads. Innovation will drive this change, with a focus on New Chemical Entities (NCEs), Biosimilars, and Biologics. Initiatives like the Research Linked Incentive scheme are encouraging bold investments. India has the potential to be a hub for early-phase clinical trials, supported by its genetic diversity and skilled workforce. Achieving self-reliance in Active Pharmaceutical Ingredients (APIs) and Key Starting Materials (KSMs) is essential. Digital technologies, including the Ayushman Bharat Digital Mission, will optimize drug discovery, manufacturing, and distribution, empowering patients and improving health outcomes.