India is a prominent player in the global pharmaceutical sector. In addition, the country boasts a big pool of scientists and engineers that can propel the sector forward to new heights. The Indian pharmaceutical industry supplies more than half of the world’s vaccination needs. In terms of volume, India is the world’s third-largest pharmaceutical manufacturer.

According to the Indian Economic Survey 2021, the domestic market would grow three times in the next decade. The domestic pharmaceutical industry in India is expected to reach US$ 65 billion by 2024, and US$ 120-130 billion by 2030. Between 2022 and 2025, KPMG predicts a 12-14 percent increase in the domestic industry.