- Prime Minister Modi urged Indian firms to be among the top five global pharma companies
- India's pharma sector ranks third globally by volume and eleventh by value
- The domestic market is projected to grow from $60 billion to $130 billion by 2030
Prime Minister Narendra Modi urged on Saturday the inclusion of one or two Indian enterprises among the top five pharmaceutical corporations worldwide.
Modi emphasised in his speech on the 80th Independence Day that Indian pharmaceutical companies must rank among the best in the world.
"We have done significant work in the pharmaceutical sector, but the need of the hour is for one or two Indian companies to feature prominently among the global top five. India must secure its place there," the prime minister asserted.
ALSO READ: India Inc Backs Modi's Self-Reliant India Push, Welcomes Growth Vision
With more than 3,000 businesses and 10,500 manufacturing facilities, the Indian pharmaceutical sector is ranked third in the world by volume and eleventh by value, according to government figures.
By 2030, the -60 billion domestic pharmaceutical market is expected to grow to $130 billion.
According to the Economic Survey 2025-26, the sector's yearly turnover reached Rs 4.72 lakh crore in FY25, with exports increasing at a compound annual growth rate of 7% over the previous 10 years (FY15 to FY25).
With 60,000 generic products produced in 60 therapeutic categories, India is the world's biggest provider of generic medications, making up about 20% of the worldwide supply.
With pharmaceutical exports to 191 countries in 2024–2025, India presently ranks 11th in the world by value. Of these, 50% go to highly regulated markets like the US and Europe, demonstrating the widespread acceptability of Indian medications abroad.
Pharmaceutical exports reached $30.5 billion in 2024–2025, a nearly 16-fold rise from $1.9 billion in 2000–01.
ALSO READ: PM Modi Sets Three Ambitious Global Targets For India Inc
Even though some Indian pharmaceutical businesses, like Sun Pharmaceutical Industries Ltd., are among the world's top producers of generic drugs, Indian pharmaceutical companies are still not among the best in the world.
Sun Pharmaceutical Industries, which announced plans in April to buy US-based Organon & Co. at an enterprise valuation of $11.75 billion, has said that if the deal is completed successfully, it will rank among the top 25 pharmaceutical companies in the world with a combined revenue of $12.4 billion and be a major player in both branded generics and established brands.
(With PTI inputs)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
