- Market Size – It is currently valued at $50 Bn.
- India is the largest provider of generic drugs globally, accounting for 20% of the global supply by volume.
- Globally, India ranks 3rd in pharmaceutical production by volume.
- Export market – India supplies
- Over 50% of Africa’s requirement for generics
- About 40% of generic demand in the US
- About 25% of all medicine in the UK.
- Vaccine market – India accounts for about 60% of global vaccine demand.
- It is the leading supplier of DPT, BCG and Measles vaccines.
- 70% of WHO’s vaccines (as per the essential Immunization schedule) are sourced from India.
- Measures – 100% Foreign Direct Investment (FDI) in the pharmaceutical sector is allowed under the automatic route for Greenfield pharmaceuticals.
- 100% FDI in the pharmaceutical sector is allowed in brownfield pharmaceuticals, wherein 74% is allowed under the automatic route and thereafter through the government approval route.
- The Production Linked Incentive (PLI) scheme to boost domestic manufacturing and reduce dependency on imports.
- The 'Pharma Vision 2020' aims to make India a global leader in end-to-end drug manufacturing.
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