Business EconomyPosted at: Jun 9 2026 4:27PM


India emerging as global hub for affordable healthcare & pharma innovation: Ravi Teja

Hyderabad, June 9 (UNI) India has emerged as the “Pharmacy of the World” through its scale, quality, affordability and reliable supply of medicines, Ravi Teja, Deputy Director, Department of Commerce, Government of India, said on Tuesday.
Addressing a press conference in Hyderabad on the occasion of completion of 12 years of Prime Minister Narendra Modi’s government and India’s pharmaceutical export growth, he said the Indian pharmaceutical sector had grown from around USD 20 billion to USD 60 billion over the last 12 years and was expected to touch USD 130 billion by 2030.
He said India’s pharmaceutical exports increased from USD 14 billion in FY2015 to USD 31 billion in FY2026, registering a compound annual growth rate of 7.22 per cent. India currently supplies around 20 per cent of the global generics demand and exports medicines to more than 200 countries.
Ravi Teja said the United States remained India’s largest pharmaceutical market, with exports reaching about USD 10.5 billion.
He added that exports to countries such as France, Brazil, the United Kingdom and South Africa had also witnessed significant growth during the last 12 years.
Highlighting India’s global role during the COVID-19 pandemic, he said the country supplied vaccines and medicines to several nations under the Vaccine Maitri initiative, strengthening its position as a reliable global health partner.
He said India was now moving from volume-driven growth to high-value pharmaceutical innovation with increasing focus on biosimilars, biologics, gene therapies, vaccines, speciality medicines and API self-reliance. Initiatives such as Biopharma SHAKTI and expansion of clinical trial infrastructure would further strengthen the sector, he added.
Ravi Teja said India has set a target of achieving USD 50 billion in pharmaceutical exports by 2030 and would continue strengthening quality standards, regulatory cooperation and innovation to maintain its position as a trusted global healthcare partner.
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