Assocham Pegs Pharma At $130 Bn By 2030

New Delhi: India is on the cusp of a transformative era in its pharmaceutical sector, which is projected to reach $130 billion by 2030, a report showed on Thursday. The world’s third-largest drug producer by volume, India is currently exporting pharmaceutical products to over 200 countries, establishing its influence in the global pharmaceutical arena, according to a Deloitte’s whitepaper launched at the Assocham’s annual pharma summit here.

The paper highlighted India’s potential to transform from a leading generic drug producer to a powerhouse of pharmaceutical innovation, driven by advancements in research, regulatory reforms, and strategic global partnerships. Growth depends on significant investments in R&D and addressing talent shortages.