New Delhi: India’s pharma exports, valued at $27.8 billion, are on track to cross $30 billion by the end of this year, Union Minister of State (Independent Charge) for Science and Technology, Dr Jitendra Singh, announced.
The Minister also projected that India’s domestic pharma market, currently at $60 billion, will double to $130 billion by 2030.
Pharma Exports and MedTech Growth Driving Sector Expansion
Speaking at the signing of a Memorandum of Understanding (MoU) between the Department of Biotechnology (DBT), Government of India, and the Government of Uttar Pradesh, Dr. Singh highlighted the growing opportunities in pharma, biotech, and MedTech.
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The collaboration, executed through DBT’s Biotechnology Industry Research Assistance Council (BIRAC) and the Uttar Pradesh Promote Pharma Council (UPPPC), is designed to boost research, innovation, entrepreneurship, and investments through a centre–state partnership model.
Dr. Singh also underlined that India’s MedTech sector, with about 800 medical device manufacturers, is witnessing an annual growth rate of 15–20%. He emphasized India’s global leadership in vaccine production, with more than 60% of the world’s vaccines manufactured in India and exported to over 200 countries.
DBT–UP Pact to Strengthen Pharma and Biotech Ecosystem
According to officials, the DBT–UP pact will focus on strengthening research, fostering innovation, scaling up startups, enhancing skill development, and building MSME linkages while catalyzing larger investments in pharma and biotech.
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DBT Secretary and BIRAC Chairman Dr Rajesh S Gokhale said the collaboration would “unlock innovation pipelines and scale up affordable technologies.” BIRAC Managing Director Dr. Jitendra Kumar stressed the importance of skill development, incubation, and commercialization to ensure rapid market entry of new healthcare solutions.
Senior Uttar Pradesh officials, including Advisor to the Chief Minister Awanish Kumar Awasthi and Additional Chief Secretary Amit Kumar Ghosh, expressed the state’s commitment to strengthening its position as a hub for pharma, biotech, and MedTech.
They highlighted key infrastructure projects such as the Biotech Park in Lucknow, the Medical Device Park in Greater Noida, and the Bulk Drug & Pharma Park in Lalitpur.
India’s Bioeconomy and Pharma Exports Poised for Global Growth
India’s bioeconomy is currently valued at $165 billion, with significant contributions from pharma exports, biotech startups, and MedTech innovation.
Dr. Jitendra Singh pointed out that the sector has grown from just 50 startups in 2014 to over 11,000 today, reflecting its rapid expansion and potential to contribute to the vision of Viksit Bharat 2047.
The Minister credited the government’s supportive policies and a whole-of-government approach for the growth of pharma exports and biotech innovation. He said initiatives like the DBT–UP partnership will further consolidate India’s role as a global hub for affordable, accessible, and innovative healthcare solutions.
