INDUSTRY
India’s pharmaceutical exports to touch $65 billion by 2030, $350 bn by 2047
- IBJ Bureau
- Feb 09, 2025
India’s pharmaceutical exports are expected to double to $65 billion by 2030 and touch $350 billion in value terms by 2047, becoming the world’s fifth-largest industry by diversifying its product basket, according to a report.
While India is the largest supplier of generic drugs globally, accounting for one in five generic drugs sold worldwide, the nation ranks 11th in terms of export value.
According to Bain & Company’s report – Healing the World: Roadmap for Making India a Global Pharma Exports Hub – India can potentially secure a position among the top-five nations in export value by 2047 by innovating and diversifying its export basket to include speciality generics, biosimilars and innovative products.
The findings in the report were formulated in collaboration with Indian Pharmaceutical Alliance (IPA), Indian Drugs Manufacturers’ Association (IDMA), and Pharmexcil.
“The transition from volume-based to value-led growth is essential for Indian pharma to secure its rightful place in the global market. Innovation, including the shift towards speciality generics, biosimilars, and novel products, will be the key to India's pharmaceutical future” Sriram Shrinivasan, Partner, Bain & Company, has said.
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