RT team
India is on track to amplify its pharmaceutical exports to $350 billion by 2047, marking a significant 10-15 fold increase from today’s figures. This growth is anchored in India’s strategic shift up the pharmaceutical value chain, emphasizing specialty generics, biosimilars, and innovative products. A collaborative report from Bain & Company and Indian pharmaceutical organizations projects India moving from its current 11th position to the top five global exporters by its centennial year of independence.
The report outlines a strategic transition from volume to value, with Active Pharmaceutical Ingredients (APIs) playing a pivotal role. Indian API exports, presently at $5 billion, are expected to surge to $80-90 billion by 2047. This leap will be supported by global supply chain diversification efforts and domestic enhancements like bulk drug parks and self-sufficiency in essential raw materials.
Biosimilar exports are also set to expand, from $0.8 billion currently to an estimated $30-35 billion by 2047, boosted by increased R&D, regulatory ease in key markets, and expanded production capacities. Meanwhile, generic formulations, which constitute 70% of India’s current pharma exports at $19 billion, are predicted to reach $180-190 billion, focusing on specialty generics for higher margins and broader market access.
Industry leaders emphasize the critical role of targeted policy reforms and international collaborations to achieve these goals. With substantial private equity and venture capital flowing into the sector, and strategic governmental incentives in place, India is poised to significantly strengthen its global pharmaceutical influence by 2047.
