India emerges as a global leader across key sectors in 2024
- IBEF
- January 1, 2025
In 2024, India solidified its global leadership across pharmaceuticals, biotechnology, defense, nuclear energy, space, infrastructure, and emerging technologies. Pharmaceutical exports surged to Rs. 2,39,372 crore (US$ 28 billion), driven by the PLI scheme and renewed domestic production of Penicillin G after 30 years. Biotech expanded from Rs. 85,490 crore (US$ 10 billion) in 2014 to Rs. 11,11,370 crore (US$ 130 billion) in 2024, marked by breakthroughs like Nafithromycin for drug-resistant pneumonia and NexCAR19, India’s first CAR-T cell therapy for cancer. Defence reforms, including liberalized FDI and the Positive Indigenization Lists, propelled Indigenous production to record highs, while missile advancements like Agni-5 and K-4 highlighted India's strategic capabilities. Nuclear energy capacity nearly doubled, with ambitious plans for further expansion supported by Bharat Small Reactors and collaborations on SMRs.
The space sector celebrated key achievements, including approvals for Chandrayaan-4, the Venus Orbiter Mission, and the debut of Gaganyaan astronauts, alongside private sector contributions from Skyroot Aerospace and Agnikul Cosmos. Infrastructure innovations like India’s first Hyperloop test track and GNSS-enabled electronic tolling showcased the nation's focus on futuristic solutions. India also advanced its leadership in quantum computing with the National Quantum Mission, launched BharatGen for multimodal AI in Indian languages, and introduced Vishvasya, a national blockchain stack. These milestones reflect India’s commitment to sustainable, inclusive growth and its vision to lead in emerging technologies.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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