India Targets $30 Billion Pharma Exports as Centre–State Partnership Boosts Biotech and MedTech Growth

Highlighting the sector’s resilience and growth, Dr. Singh revealed that India’s domestic pharmaceutical market is worth $60 billion and is projected to double to $130 billion by 2030.

 

India’s pharmaceutical exports, currently valued at nearly $27.8 billion, are expected to cross $30 billion by the end of this year, Union Minister of State (Independent Charge) for Science and Technology, Earth Sciences, and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh announced today.

Expanding Pharma and Domestic Market Potential

Highlighting the sector’s resilience and growth, Dr. Singh revealed that India’s domestic pharmaceutical market is worth $60 billion and is projected to double to $130 billion by 2030. This trajectory places India firmly on the path of becoming one of the largest global hubs for affordable medicines and healthcare solutions.

A Landmark MoU Between DBT and Uttar Pradesh

The Minister’s announcement followed the signing of a Memorandum of Understanding (MoU) between the Department of Biotechnology (DBT), Government of India, and the Government of Uttar Pradesh. Executed through DBT’s Biotechnology Industry Research Assistance Council (BIRAC) and the Uttar Pradesh Promote Pharma Council (UPPPC), this partnership is set to accelerate innovation, entrepreneurship, and investment in pharma, biotech, and MedTech sectors.

Officials emphasized that the collaboration would focus on:

• Advancing cutting-edge research and innovation,

• Strengthening the ecosystem for startups,

• Enhancing skill development and knowledge exchange,

• Building closer industry linkages with SMEs and MSMEs,

• Attracting greater investments to fuel long-term growth.

India’s Biotech and MedTech Rise

India’s MedTech sector, currently home to around 800 manufacturers, is witnessing annual growth of 15–20%. Dr. Singh underscored that this momentum complements India’s growing biotech ecosystem, which has surged from just 50 startups in 2014 to over 11,000 today.

Significantly, India has earned global recognition as a leading supplier of vaccines, producing more than 60% of the world’s vaccines and exporting them to over 200 countries.

Policy Support and Vision for Viksit Bharat 2047

Dr. Singh credited this rapid expansion to strong policy support and a whole-of-government approach. He stressed that the DBT and its agencies have actively pursued collaborations with states to build robust sectoral ecosystems. Partnerships like the DBT–UP agreement, he said, align with the government’s long-term vision of “Viksit Bharat 2047”, reinforcing India’s role as a provider of affordable, globally relevant healthcare solutions.

Unlocking Uttar Pradesh’s Potential

DBT Secretary and BIRAC Chairman Dr. Rajesh S. Gokhale said the agreement would “unlock innovation pipelines and scale up affordable technologies.” Uttar Pradesh officials reaffirmed their commitment to making the state a hub for pharma, biotech, and MedTech, citing flagship projects such as:

• Biotech Park in Lucknow,

• Medical Device Park in Greater Noida,

• Bulk Drug & Pharma Park in Lalitpur.

Advisor to the Chief Minister, Awanish Kumar Awasthi, noted that with DBT-BIRAC’s support, these initiatives would be scaled up to foster startups and research collaborations, directly impacting healthcare delivery across India and beyond.

Strengthening Skills and Commercialization

Dr. Jitendra Kumar, Managing Director of BIRAC, emphasized that the partnership would focus on skill development, incubation, and commercialization, ensuring that innovations move from labs to markets more efficiently, creating both economic and social benefits.

The event was attended by Additional Chief Secretary of Uttar Pradesh Amit Kumar Ghosh, alongside senior officials from DBT, BIRAC, and the state government, underscoring the strong alignment of Centre–State priorities in expanding India’s biotech, pharma, and MedTech landscape.

Bioeconomy Outlook

With India’s bioeconomy already valued at $165 billion, the government envisions such centre–state collaborations as essential to positioning the country as a global hub for accessible biopharma and MedTech solutions.