The turnover of pharmaceutical industry in India reached Rs 4,17,345 Cr in 2023-24, registering a growth of 10% over 2022-23
Nov 26, 2024
New Delhi [India], November 26: The pharmaceutical industry in India is currently valued at $50 Bn. India is a major exporter of Pharmaceuticals, with over 200+ countries served by Indian pharma exports. India supplies over 50% of Africa's requirement for generics, 40% of generic demand in the US and 25% of all medicine in the UK. Hailed as the "pharmacy of the world", the booming pharmaceutical industry of India is a leading source of cutting edge innovation especially when it comes to providing life-saving medicines at affordable prices to people. Presently, it's the largest international provider of generic drugs, which are the cheaper- but similar medicines as brand name medicine.