Indian Pharma Sector Becomes 3rd Largest Globally, Valued at $50B
India’s pharmaceutical sector is the world’s third-largest by volume, valued at billion in 2023-24, contributing .5 billion domestically and .5 billion in exports. It ranks 14th globally in production value and offers a diverse range of products, including generics, bulk drugs, biosimilars, and vaccines. Employing over 9.25 lakh people, the sector significantly impacts the economy. Educational initiatives like NIPERs promote advanced research, while policies support innovation in drug and medical device development. The industry’s growth focuses on enhancing global presence and fostering a sustainable, competitive ecosystem.
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