Will Indian Pharma Exports Surpass $30bn This Year?
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Synopsis
India's pharmaceutical exports are on the brink of a significant milestone, projected to exceed $30 billion by year-end. Union Minister Jitendra Singh highlights the growth potential of the domestic market and the Medtech sector, emphasizing India's emergence as a global leader in affordable healthcare solutions. This article delves into the details of this promising trajectory.
Key Takeaways
- Pharma exports projected to exceed $30 billion.
- Domestic market expected to reach $130 billion by 2030.
- Medtech sector showing significant growth.
- Partnerships to advance healthcare innovation.
- India recognized as a global vaccine supplier.
New Delhi, Sep 30 (NationPress) India’s pharmaceutical exports, currently estimated at nearly $27.8 billion, are projected to exceed $30 billion by the end of this year, according to Union Minister of State (Independent Charge) for Science and Technology, Jitendra Singh, on Tuesday.
Singh mentioned that the domestic pharma market in India stands at $60 billion but is anticipated to double to $130 billion by 2030.
He also indicated that the Medtech sector is poised for significant growth.
“Currently, there are approximately 800 medical device manufacturers in the nation, and the annual growth rate of the Medtech sector is between 15 to 20 percent,” Singh stated.
These remarks were made during the signing of a formal Memorandum of Understanding (MoU) between the Department of Biotechnology (DBT) and the Government of Uttar Pradesh.
The agreement, facilitated through DBT’s Biotechnology Industry Research Assistance Council (BIRAC) and the Uttar Pradesh Promote Pharma Council (UPPPC), aims to foster innovation, entrepreneurship, and investment in the pharma, biotech, and MedTech sectors under a centre–state partnership model.
Such collaborations will advance the vision of Viksit Bharat 2047 and solidify India’s status as a supplier of affordable healthcare solutions, “made in India, made for the world,” the Minister emphasized.
With India’s bioeconomy already valued at around $165 billion, the government perceives these centre–state partnerships as a means to expedite India’s rise as a global hub for accessible biopharma and MedTech solutions.
“The swift advancement of India’s biotech ecosystem—from about 50 startups in 2014 to over 11,000 today—demonstrates the sector’s potential to propel the nation’s economic and healthcare objectives,” Singh remarked.
He highlighted that India is now acknowledged as a global vaccine provider, producing over 60 percent of the world’s vaccines, with more than 200 countries receiving doses manufactured in India.
Point of View
The growth of India's pharmaceutical and Medtech sectors is commendable. It reflects the nation's commitment to provide affordable healthcare solutions while enhancing its global market position. The partnerships formed between the central and state governments signify a strategic approach towards innovation and economic development in these vital sectors.
NationPress
30/09/2025
Frequently Asked Questions
What is the current value of India's pharma exports?
India's pharma exports are currently valued at approximately $27.8 billion.
What is the expected growth of India's domestic pharma market by 2030?
The domestic pharma market in India is anticipated to double from $60 billion to $130 billion by 2030.
How many medical device manufacturers are there in India?
India currently has around 800 medical device manufacturers.
What is the growth rate of the Medtech sector in India?
The annual growth rate of the Medtech sector in India is between 15 to 20 percent.
How many startups are part of India's biotech ecosystem?
India's biotech ecosystem has grown to over 11,000 startups from about 50 in 2014.
