From generic drugs to vaccines, the Indian pharmaceutical industry is changing lives around the world
Over the past decade, India has turned itself into a global health leader in affordability, innovation and inclusion.
India's pharmaceutical industry ranks third in the world's giants and 14th in value.
It is the largest general-purpose drug supplier, providing 20% of the global supply and is also a key player in affordable vaccines.
In 2023-24, the sector's turnover reached a steady growth of Rs 417,345 crore, with over 10% per year in the past five years.
For Mandarin, this means more medicines at lower prices, better health care, and work in factories and laboratories across the country. From small towns to big cities, pharmaceutical growth in India is creating opportunities and saving lives.
The government claims its plan is the backbone of this success.
Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) operates 15,479 Jan Aushadhi Kendras, offering generic drugs at 80% lower than the brand’s price.
Once the cardiac medicine priced at Rs 500 may now cost Rs 100. The Incentive Scheme (PLI) scheme for the production of drugs related to Rs 150 crore supports 55 projects to produce high-end drugs such as cancer and diabetes drugs in India.
Another PLI program with Rs 69,400 crore focuses on raw materials such as penicillin G, which reduces our demand for imports.
PLI for medical devices, supported by Rs 34.2 crore, is enhancing the production of tools such as MRI machines and cardiac implants.
Then there is the promotion of bulk pharmaceutical park scheme, which built large hubs of Rs 30 billion in Gujarat, Himaal Pradesh and Andhra Pradesh to make medicines cheaper and faster.
Strengthening the Pharmaceutical Industry (SPI) program to provide Rs 5 billion to fund research and upgrade labs to help Indian companies compete globally.
“These efforts mean that the drugs are manufactured in India, India and around the world to keep costs low and quality high,” the government said in a statement.
India's pharmaceutical industry offers 55-60% of UNICEF vaccines, encounters 99% of the WHO's DPT (diphtheria, whooping cough and tetanus) vaccine demand, 52% of BCG (Bacillus Calmette-Guerin is a vaccine primarily used for TB), and 45% of quantum. From Africa to the United States, India's vaccines have saved millions.
At home, these programs create jobs for young Indians, ranging from factory workers to scientists. Foreign investors invested in Rs 128,22 crore in 2023-24 alone, as they see the potential of India.
India welcomes 100% foreign investment in medical equipment and Greenfield Pharmaceuticals, making India a hot spot for global companies.
The pharmaceutical sector in India is more than just an industry. This is a lifeline. With plans like PMBJP, PLI and Bulk Pharmaceutical Park, the Modi government is ensuring that no one stays in health care.
From Jan Aushadhi Kendras’ affordable medicine to vaccines that reach the world, India is building a healthier, self-reliant future.
