The booming pharmaceutical industry in India is not only a major source of innovation and job creation.
India is now world-renown for its pharmaceutical innovation and for supplying high-quality medicines.
Note of Appreciation Pharma Industry in India
India prove that it deserves to be name the ‘Pharmacy of the World’
by sending essential drugs to the world during the Covid-19 pandemic, more than ever before.
In addition to rising at a healthy pace and contributing to the growth of the economy,
India’s pharmaceutical sector also contributes significantly to India’s exports.
I congratulate Invest India for producing a final pharmaceutical report that demonstrates the phenomenal potential of the industry.
With the Government of India’s launch of four schemes,
India expecting to step in the direction of being self-reliant on essential APIs and medical devices.
Foreword Pharma Industry in India
sending much-needed drugs during the COVID-19 pandemic to scores of countries.
India’s renowned pharmaceutical companies have produced path-breaking innovations over the years especially in bringing life-saving medicines to regions. That need them most at the most affordable prices.
India’s pharmaceutical industry is poise to enter new heights as the world turns.
India to make the best drugs available to millions at the most affordable rate. This study describes the various successes and possibilities in the pharmaceutical industry in India.
Executive Summary Pharma Industry in India
The booming pharmaceutical industry in India has a long and distinguished
history of innovating and delivering life-saving drugs at the world’s most affordable rate.
The COVID-19 pandemic has shown that not only can India innovate,
but also deliver time-critical medicines quickly to any part of the world that needs them.
India is the world’s largest provider of low-cost generics, vaccines, and affordable medicines are one of the largest producers of drugs
in terms of both value and production and have the second largest number of authorized medicine
manufacturing plants by the Food and Drug Administration (FDA).
This report describes how the COVID-19 pandemic not only highlighted the strengths of the pharmaceutical industry in India
but also discusses several main government initiatives to boost industry investment following the pandemic,
Including the establishment and promotion of bulk drug manufacturing facilities and incentive schemes linked to development.
Introduction Pharma Industry in India
The pharmaceutical industry in India forms a major component of foreign trade in the region. For buyers, with enticing paths and prospects.
India provides affordable and affordable supplies to To millions of people across the globe.
Low-cost generic drugs and run a major U.S. Food and Drug Administration (USFDA) and World Health Number of Good Manufacturing Practices (GMP) Company (WHO)-compliant plants.
In terms of value, India ranks 14th globally and third in terms of volume. This difference The growing demand for Indian pharmaceutical products in the area can attribute to this.
Global markets, and the reduced costs thereof. India is thus, increasingly call the ‘World pharmacy,’ internationally exporting its pharmaceutical goods.
Indian pharmaceutical industry aspires to become the world’s largest supplier of drugs by 2030
and aims to increase its industry revenue to $ 120 Bn-130 Bn by 2030 from current revenue of $ 41 Bn at a
compound annual growth rate (CAGR) of 11-12 percent.2
COVID-19 Crisis: Impact and Response of India’s Pharma Industry
The COVID-19 pandemic has had a signiﬁcant impact on nearly all spheres of the Indian economy.
Due to restricted connectivity during the lockdown, supply-chains, exchange and transfer of essential goods and services,
The movement of people and the distribution of various commodities are affecteding.
INR 100 crore from the PM-CARES Fund has been allocating by the Government of India to finance
the vaccine production initiative for COVID-19.
According to Dr. K. VijayRaghavan, Principal Scientific Adviser to the Government of India,
over 100 vaccine attempts carrying out worldwide, of which about 30 in India.
Under the Department of Biotechnology (DBT) – Biotechnology Industry Research Assistance Council (BIRAC) consortium,
At least 10 vaccine projects are funding, both monetary and regulatory.
IIT-Guwahati research teams, the Indian Institute of Chemical Technology,
Pradhan Mantri Bhartiya Jan Aushadhi Pariyojana (PMBJP)
- The government of India is implementing Pradhan Mantri Bhartiya Jan Aushadhi Pariyojana (PMBJP) with the objective to realize
- Prime Minister Modi’s vision to make affordable medicines available to common people, especially to the poor and disadvantaged.
- The product basket covered under this scheme includes more than 800 medicines and 154 surgical and consumables.
- Generic medicines sold at dedicated Jan Aushadhi stores are cheaper by
- at least 50 percent and for some, even by 90 percent.
In a pandemic like COVID-19, the role of Jan Aushadi Kendras has been very important. The 6,000 Jan Aushadi Kendras were operating day and night tirelessly to serve the poor and the needy.