Pharmaceutical Exports from India

The Indian pharmaceuticals market is the third largest in terms of volume and the 13th largest in terms of value. It has established itself as a global manufacturing and a research hub. A large raw material base and the availability of skilled workforce gives the industry a definite competitive advantage. The Indian pharmaceutical industry is expected to grow at a compound annual growth rate (CAGR) of 22.4% to touch US$ 55 billion by 2020.

The Indian pharmaceuticals market is dominated by generic drugs which constitute nearly 70% of the market, whereas over the counter (OTC) medicines and patented drugs make up to 21% and 9%, respectively.

India plans to set up a nearly Rs 1 lakh crore (US$ 1.3 billion) fund to boost companies to manufacture pharmaceutical ingredients domestically by 2023.