India's pharmaceutical industry has recorded a 7.8 percent year-on-year growth in April 2025, driven by rising global demand, new product launches, and government initiatives aimed at establishing the country as a global centre for affordable, high-quality healthcare solutions.

The pharmaceutical industry in India has been growing steadily at over 10 percent annually for the past five years. The turnover in the 2023-24 fiscal year was INR 4,17,345.

According to the Department of Pharmaceuticals, Government of India, India is the largest supplier of generic medicines providing 20 percent of the world's supply and a key player in affordable vaccines. “It has transformed itself into a global health leader in terms of affordability, innovation, and inclusivity over the past decade. India's pharmaceutical industry is a global giant, ranking third in volume and 14th in value,” read a statement by the Department of Pharmaceuticals.

The Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) which runs 15,479 Jan Aushadhi Kendras, provides access to affordable medicines, improve healthcare services, and generates employment opportunities. PMBJP offers generic medicines at prices up to 80 percent lower than branded alternatives. The scheme is expanding its reach to districts in the country.

The Production Linked Incentive (PLI) for Medical Devices, backed by INR 3,420 crore outlay, is boosting the production of tools like MRI machines and heart implants.

Another PLI scheme with INR 6,940 crore outlay focuses on raw materials like Penicillin G, reducing our need for imports.

The Promotion of Bulk Drug Parks scheme, with INR 3,000 crore outlay building mega hubs in Gujarat, Himachal Pradesh and Andhra Pradesh, has also made medicines cheaper and faster.

The Strengthening of Pharmaceuticals Industry (SPI) Scheme with INR 500 crore, funds research and upgrades labs, helping Indian companies compete globally.

India's pharma sector supplies 55-60 percent of UNICEF's vaccines, meeting 99 percent of WHO's DPT (Diphtheria, Whooping cough and Tetanus) vaccine demand, 52 percent for BCG (Bacillus Calmette-Guerin is a vaccine primarily used against TB), and 45 percent for measles. From Africa to America, Indian vaccines save millions.

India welcomes 100 percent foreign investment in medical devices and greenfield pharma projects, making India a hotspot for global companies.