India's Pharmaceutical Dominance: A Global Powerhouse

India is a leading global supplier of quality medicines, with pharmaceutical exports exceeding USD 30 billion. The country ranks third by volume and fourteenth by value in pharma production, servicing over 200 markets. Strategic initiatives aim to tackle non-tariff barriers and enhance regulatory cooperation.

India has emerged as a trusted global supplier of affordable, quality medicines, with pharmaceutical exports surpassing USD 30 billion, announced Commerce Secretary Rajesh Agrawal. Speaking at a Chintan Shivir on pharmaceutical exports, Agrawal depicted India's role as the third-largest pharmaceutical producer by volume and fourteenth by value.

The dialogue at the Chintan Shivir in Chandigarh emphasized the need to tackle non-tariff barriers, strengthen regulatory cooperation, and develop a thriving life sciences innovation ecosystem. India aims to expand its pharmaceutical market, expected to reach USD 130 billion by 2030, highlighting the sector's depth and innovation potential.

The discussions addressed challenges like identifying non-tariff barriers and regulatory hurdles, promoting regulatory cooperation, and improving industry awareness. With exports to over 200 markets, including the stringent U.S and European sectors, India builds on its strong foundation for future export growth.

(With inputs from agencies.)