India Pharma Market Set to Reach $130 Billion by 2030

India’s pharmaceutical industry continues to strengthen its position as a globally integrated and policy-driven sector, now ranked third worldwide by volume and 11th by value. According to a recent official factsheet, the domestic pharmaceutical market, currently valued at $60 billion, is projected to grow significantly and reach $130 billion by 2030.

The industry’s scale is reflected in its vast network of over 3,000 companies and more than 10,500 manufacturing units. As highlighted in the Economic Survey 2025–26, the sector recorded an annual turnover of ₹4.72 lakh crore in FY25, underlining its strong economic contribution. Over the past decade, pharmaceutical exports have expanded at a steady compound annual growth rate (CAGR) of 7 percent.

India remains the world’s largest supplier of generic medicines, contributing nearly 20 percent to global supply. The country produces approximately 60,000 generic brands across 60 therapeutic categories, showcasing both diversity and manufacturing depth. This growth has been driven by robust production capabilities, increasing foreign investments, and focused government initiatives aimed at reducing import dependence and strengthening global competitiveness.

Additionally, India holds the highest number of USFDA-approved manufacturing plants outside the United States, reinforcing global trust in the quality and safety of its pharmaceutical products. The country also has around 500 active pharmaceutical ingredient (API) manufacturers, contributing nearly 8 percent to the global API market.

In the vaccine segment, India plays a critical role globally, meeting 40–70 percent of demand for key vaccines such as DPT and BCG, and supplying 90 percent of the World Health Organization’s measles vaccine requirements. Indian companies also account for about 60 percent of vaccine supplies to UNICEF.

With pharmaceutical exports reaching $30.5 billion in FY25, alongside new trade agreements with key global markets, the sector is poised for sustained expansion and deeper global integration.