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Pharmaceutical industry in India
 | This article needs to be updated. (September 2018) |
The pharmaceutical industry in India was valued at an estimated US$42 billion in 2021 and is estimated to reach $130 billion by 2030.[1] India is the world's largest provider of generic medicines by volume, with a 20% share of total global pharmaceutical exports. It is also the largest vaccine supplier in the world by volume, accounting for more than 60% of all vaccines manufactured in the world.[2] Indian pharmaceutical products are exported to various regulated markets including the US, UK, European Union and Canada.[3][4]
According to Economic Survey 2023, the turnover in the domestic pharmaceutical market was estimated to be $41 billion.[5] India's pharmaceutical exports revenue was $25.3 billion in fiscal year 2022–23, according to the data released by Pharmexcil.[6] India ranked third globally in terms of dollar value of drugs and medicines exports.[7]
Major pharmaceutical hubs in India are (anticlockwise from northwest): Vadodara, Ahmedabad, Ankleshwar, Vapi, Baddi, Sikkim, Kolkata, Visakhapatnam, Hyderabad, Bangalore, Chennai, Margao, Navi Mumbai, Mumbai, Pune, Aurangabad, Pithampur, and Paonta Sahib.
- ^ "'Indian pharma industry likely to grow to $130 billion in size by 2030'". The Hindu. 2 June 2023. Retrieved 19 September 2023.
- ^ "India's vaccine manufacturing prowess". www.investindia.gov.in. Retrieved 19 September 2023.
- ^ Cite error: The named reference
csir2was invoked but never defined (see the help page). - ^ "Indian Pharmaceuticals Industry Analysis: A Sectoral Presentation". India Brand Equity Foundation. Retrieved 27 May 2019.
- ^ "Domestic pharmaceutical market to reach $130 bn by 2030: Eco Survey". The Economic Times. 31 January 2023. Retrieved 24 June 2023.
- ^ "India's pharma exports cross $25.3 billion". Deccan Chronicle. Retrieved 24 June 2023.
- ^ Ahlawat & Associates (26 May 2022). "Development of Pharmaceutical Industry in India". Lexology. Retrieved 27 May 2022.
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