India Sets Sights on USD 50 Billion Pharma Exports By 2030

Pharma exports have more than doubled from around USD 14–15 billion in FY15 to USD 31 billion now, with the US, Europe and emerging markets in Africa and Latin America among the main growth drivers. The government expects this momentum to continue on the back of rising demand for complex generics, biosimilars, contract research and manufacturing (CRDMO) services and specialised formulations.

To support the push, policy measures such as the Production-Linked Incentive (PLI) scheme for pharmaceuticals, schemes to encourage domestic bulk drug and API manufacturing, and streamlined regulatory processes are being strengthened. Officials also underlined efforts to expand India’s network of mutual recognition agreements and regulatory cooperation with major markets to ease approvals for Indian-made drugs.  Industry analysts note that achieving USD 50 billion in exports by 2030 will require sustained investments in R&D, scaling up high-value segments such as biosimilars and injectables, and continued adherence to stringent global quality norms, in which India already leads in the number of USFDA-approved plants outside the US. The government and industry bodies are positioning the country not just as the “pharmacy of the world” for volume generics, but as a diversified hub for innovation-led pharma and healthcare solutions.