India Targets Top Five Companies
Key Highlights:
- PM Modi called for one or two Indian pharma companies to enter the global top five.
- India ranks third globally by pharmaceutical volume.
- The domestic pharmaceutical market is valued at about USD 60 billion.
- India supplies around 20% of global generic medicines.
- Pharmaceutical exports reached USD 30.5 billion in FY25.
- India exports medicines to 191 countries.
New Delhi, August 15: Prime Minister Narendra Modi has called for one or two Indian pharmaceutical companies to establish a position among the world’s top five pharmaceutical firms, highlighting the need for greater global scale and competitiveness in India’s healthcare industry.
Addressing the nation on the 80th Independence Day, Modi said India has made significant progress in pharmaceuticals but needs globally prominent companies capable of competing at the highest level.
India’s pharmaceutical industry currently ranks third globally by volume and 11th by value. The sector comprises more than 3,000 companies and around 10,500 manufacturing units.
The domestic pharmaceutical market is valued at approximately USD 60 billion and is projected to reach USD 130 billion by 2030.
India is also the world’s largest supplier of generic medicines, accounting for around 20 per cent of global generic drug supply. The country manufactures approximately 60,000 generic brands across 60 therapeutic categories.
Pharmaceutical exports have expanded significantly over the past two decades. India’s pharma exports stood at USD 30.5 billion in 2024-25, compared with USD 1.9 billion in 2000-01.
Indian pharmaceutical companies exported medicines to 191 countries during 2024-25. Around half of these exports were directed towards highly regulated markets such as the United States and Europe.
Despite its strong manufacturing and export base, Indian companies have yet to establish a dominant presence among the world’s largest pharmaceutical companies by overall revenue and global scale.
Sun Pharmaceutical Industries is among India’s leading global generic drug makers. The company has also announced plans to acquire US-based Organon & Co at an enterprise valuation of USD 11.75 billion. Following successful completion of the transaction, the combined business is expected to generate revenue of around USD 12.4 billion.
The government’s focus is now increasingly shifting from manufacturing volume and generic drug supply towards building globally competitive Indian pharmaceutical brands with greater research, innovation and international scale.
