India’s Pharmaceutical Sector Records Transformative Growth Over 12 Years, Strengthening Affordable Healthcare and Self-Reliance
- IBEF
- June 19, 2026
India’s pharmaceutical sector has undergone significant transformation over the past 12 years, strengthening healthcare accessibility, promoting affordable medicines and enhancing self-reliance in pharmaceutical manufacturing. According to the Government, India has emerged as the world’s third-largest pharmaceutical producer by volume and one of the largest suppliers of generic medicines globally, supplying affordable healthcare solutions to over 200 countries and territories. Policy initiatives such as the Production Linked Incentive (PLI) Scheme for Pharmaceuticals, the Scheme for Promotion of Bulk Drug Parks and support for medical device manufacturing have strengthened domestic production capabilities, reduced import dependence and improved the resilience of pharmaceutical supply chains. The Government has also expanded access to affordable medicines through the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), under which more than 15,000 Janaushadhi Kendras are providing quality medicines at substantially lower prices across the country, benefiting millions of citizens.
The sector’s growth has been supported by rising investments in research and development, biotechnology, vaccine manufacturing and pharmaceutical infrastructure, enabling India to strengthen its capabilities in complex generics, biosimilars and specialty medicines. India played a pivotal role in supplying medicines and vaccines globally during and after the COVID-19 pandemic, reinforcing its position as the “Pharmacy of the World.” The pharmaceutical industry has also contributed significantly to employment generation, export growth and healthcare affordability while supporting the vision of Atmanirbhar Bharat. Continued emphasis on innovation, regulatory reforms, domestic manufacturing and healthcare accessibility is expected to further enhance India’s global competitiveness, strengthen pharmaceutical exports and support long-term growth, making the sector a key pillar of the country’s economic and healthcare development strategy.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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