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India’s Pharmaceutical Market Set to Surge to USD 130 Billion by 2030, Says Commerce Secretary

Currently, India’s pharmaceutical market is valued at around USD 60 billion, driven by a strong manufacturing base and expanding global outreach. The Commerce Secretary emphasized that the sector’s broad capabilities – spanning generic drugs, biologics, vaccines, and complex therapeutics – will fuel future growth.

• By Newsdesk
• New Delhi
• Dec 18, 2025

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India’s pharmaceutical industry is gearing up for a significant expansion, with the domestic market projected to more than double to about USD 130 billion by 2030, according to Commerce Secretary Rajesh Agrawal. The announcement came at the Regional Chintan Shivir on Pharmaceutical Exports held in Chandigarh, where policymakers, industry leaders, exporters, and regulatory experts convened to chart the sector’s growth trajectory. 

Delivering a video address at the one-day event, Agrawal highlighted that pharma exports reached USD 30.47 billion in the 2024-25 fiscal year, marking a near 9.4 percent year-on-year growth and underscoring India’s rising footprint in global markets. 

Currently, India’s pharmaceutical market is valued at around USD 60 billion, driven by a strong manufacturing base and expanding global outreach. The Commerce Secretary emphasized that the sector’s broad capabilities – spanning generic drugs, biologics, vaccines, and complex therapeutics – will fuel future growth. 

India has established itself as a major global player, ranking third worldwide by volume and fourteenth by value in pharmaceutical production. With more than 3,000 companies, roughly 10,500 manufacturing units, and over 60,000 generic brands across 60 therapeutic categories, Indian medicines now reach over 200 markets globally. A significant share of exports continues to head to highly regulated destinations, such as the United States and European countries, reaffirming the industry’s reputation for quality and affordability. 

Delegates at the Shivir discussed a range of strategic issues, including non-tariff barriers, regulatory challenges, and mechanisms to streamline approvals in target markets. There was also a focus on strengthening India’s life sciences ecosystem through enhanced research and development, expanded clinical trials, and innovation in areas like biosimilars and vaccines. 

The event took stock of recent trade developments, such as the India–UK Comprehensive Economic and Trade Agreement (CETA) and the India–EFTA Trade and Economic Partnership Agreement (TEPA), both of which include binding zero-tariff provisions that could significantly boost pharmaceutical competitiveness and market access. 

Agrawal reiterated the government’s commitment, aligned with Prime Minister Narendra Modi’s vision, to strengthen India’s role as a trusted global trade partner and enhance access to affordable, quality medicines worldwide.