India’s Pharmaceutical Sector Thrives: Government Highlights Key Achievements
Mumbai, 9 June 2026 – The Department of Commerce, Government of India, recently hosted an outreach program at the Pharmaceuticals Export Promotion Council of India (Pharmexcil) office in Mumbai, showcasing significant strides made in the pharmaceutical sector over the past 12 years. The event drew representatives from major industry associations, including the Indian Drug Manufacturers’ Association and the International Pharmaceutical Excipients Council of India, along with stakeholders from prominent companies like ACG and FDC Limited.
Shri Mohit Yadav, Joint Secretary of the Department of Commerce, highlighted the remarkable growth trajectory of India’s pharmaceutical exports, which have surged from approximately US$ 14 billion in FY 2015 to around US$ 31 billion in FY 2026. He pointed out that this growth equates to an annual increase of 7.4 percent, with aims to reach US$ 50 billion by 2030. He emphasized the government’s collaboration with industry players to enhance export capabilities and shift from volume-driven to value-driven exports.
India has earned its title as the “Pharmacy of the World” due to its extensive range of high-quality, affordable medications. The country’s pharmaceutical sector has grown from about US$ 20 billion in 2014 to nearly US$ 60 billion in 2026, with projections indicating it could reach US$ 130 billion by 2030. Affordability has been a critical factor, as Indian generic medicines have made healthcare accessible to millions globally, supplying roughly 20 percent of the world’s demand for generics.
Maharashtra has emerged as a pivotal hub in this growth story, housing vital pharmaceutical manufacturing and research centers. The state contributes significantly to India’s drug production and exports, employing over 200,000 individuals across various roles.
Engaging with the media during the event, the Joint Secretary also introduced the Biopharma SHAKTI initiative, intended to establish India as a global leader in biopharmaceutical manufacturing. With a proposed investment of ₹10,000 crore over five years, this strategy aims to bolster domestic production of biologics and improve clinical trial infrastructures.
Furthermore, India is becoming a center for pharmaceutical knowledge services. The establishment of Global Capability Centres by multinational companies is creating job opportunities for over 100,000 professionals, facilitating substantial investments of upwards of US$ 1 billion.
Yadav concluded by discussing India’s strategic trade agreements with countries including the UAE, Australia, and the UK, which are set to enhance market access and investment in the pharmaceutical sector. As India transitions towards higher-value products such as biosimilars and gene therapies, the Department of Commerce remains committed to ensuring that the nation’s pharmaceutical industry retains its global competitive edge, focusing on quality, affordability, and continued innovation.
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