India Poised to Export Over 50% of Pharma Production

In the previous year, approximately half of India’s pharmaceutical and biological products were sent overseas, signaling a significant change towards a pharmaceutical industry focused on exports as India nears exporting over 50% of its output.

Prime Minister Narendra Modi highlighted the government's healthcare expansion with the initiation of five significant pharmaceutical projects, which required a total greenfield investment of ?5,000 crore. Chawla mentioned that this is a component of the larger PLI (Production Linked Incentive) program, which has attracted total investments of around ?35,000 crore in 55 projects, with an additional 30 projects in progress. This investment drive aims to boost India's self-reliance in pharmaceuticals, achieve import substitution, and create export earnings.

Arunish Chawla, Secretary of the Department of Pharmaceuticals, predicts that India's pharmaceutical and meditech sector, valued at around $70 billion, is set to almost double by 2030.

Chawla pointed out that India's economic and employment landscape will benefit greatly from the rapidly developing CRDMO ecosystem, driving growth.

He noted, “The CRDMO industry in our country is now growing at 12-14%,” providing opportunities for graduates, engineers, and technicians as the industry scales up its research and manufacturing capabilities.

India has also made notable strides in achieving a trade balance in bulk drug imports and exports. “For the first time in the closing year, we reached a trade balance between imports and exports as far as bulk drugs are concerned,” Chawla emphasised.