This article needs to be updated. Please help update this article to reflect recent events or newly available information.(September 2018)
The pharmaceutical industry in India was valued at an estimated US$42 billion in 2021 and is estimated to reach $130 billion by 2030.[1] India is the world's largest provider of generic medicines by volume, with a 20% share of total global pharmaceutical exports. It is also the largest vaccine supplier in the world by volume, accounting for more than 60% of all vaccines manufactured in the world.[2] Indian pharmaceutical products are exported to various regulated markets including the US, UK, European Union and Canada.[3][4]
According to Economic Survey 2023, the turnover in the domestic pharmaceutical market was estimated to be $41 billion.[5] India's pharmaceutical exports revenue was $25.3 billion in fiscal year 2022–23, according to the data released by Pharmexcil.[6] India ranked third globally in terms of dollar value of drugs and medicines exports.[7]
Major pharmaceutical hubs in India are (anticlockwise from northwest): Vadodara, Ahmedabad, Ankleshwar, Vapi, Baddi, Sikkim, Kolkata, Visakhapatnam, Hyderabad, Bangalore, Chennai, Margao, Navi Mumbai, Mumbai, Pune, Aurangabad, Pithampur, and Paonta Sahib.
^"'Indian pharma industry likely to grow to $130 billion in size by 2030'". The Hindu. 2 June 2023. Retrieved 19 September 2023.
^"India's vaccine manufacturing prowess". www.investindia.gov.in. Retrieved 19 September 2023.
^Cite error: The named reference csir2 was invoked but never defined (see the help page).
^"Indian Pharmaceuticals Industry Analysis: A Sectoral Presentation". India Brand Equity Foundation. Retrieved 27 May 2019.
^"Domestic pharmaceutical market to reach $130 bn by 2030: Eco Survey". The Economic Times. 31 January 2023. Retrieved 24 June 2023.
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