Indian Pharma Clocked 8% Growth In 2024: McKinsey

New Delhi: The Indian pharma sector has grown at 8 per cent CAGR and has also seen a 9 per cent increase in export rates in 2024, according to a report. The report by McKinsey & Company showed that the pharma sector in the country is witnessing rapid production growth. Expanding its capabilities in APIs and biotechnology, it has grown at 8 per cent CAGR, twice the global average.

The country also emerged as the world’s largest supplier of generic medicines, with a 9 per cent pharma export growth rate, nearly double the global average, the report said.