The continuing business expansion in the Indian pharmaceutical sector has led to an estimated 24 per cent growth in hiring in the current financial year. Growing consumer awareness and healthcare investments in the domestic market are major drivers behind this trend. Pharmaceutical exports from India have grown at a CAGR of 17 per cent during last 3 years at US$ 14.7 billion in 2012-13. The Government of India has set an export target of US$ 25 billion by 2016.
India is amongst the top six producers of pharmaceuticals in the world and is home to over 10,500 manufacturing units and 3,000 pharma companies. IBEF was recently present at the largest pharmaceutical exhibition, CPhI Worldwide 2013, Frankfurt leading the Brand India Pharma campaign. With a strategic mix of on-ground branding, participation in prominent events and media interviews, IBEF highlighted the value proposition that Indian pharma industry represents.