Exports of India's pharma industry to reach $350 billion by 2047: Report

A recent report by the Bain & Company in collaboration with Indian pharmaceutical bodies said exports of India's pharmaceutical industry are projected to reach $350 billion by 2047.

- 

This is an estimated 1015 times increase from the current levels.

India, which currently ranks 11th in pharmaceutical export value, can secure a position among the top five nations by 2047, the report said.

The country's pharma exports are expected to grow from approximately $27 billion in 2023 to $65 billion by 2030, before reaching the ambitious $350 billion target by India's 100th year of independence, it added.

India, being already a global leader in generic drug supply, is expected to move up the value chain by focusing on specialty generics, biosimilars, and innovative pharmaceutical products.

The report said the key to this growth would be India’s transition from a volume-based approach to a value-driven strategy.