India needs pharma firms among global top 5: PM
Prime Minister Narendra Modi on Saturday said that India needs at least one, if not two, pharmaceutical companies among the world’s top five.
In his address on the 80th Independence Day, Modi reiterated the need for Indian pharmaceutical companies to be among the world’s top firms. “We have done significant work in the pharmaceutical sector, but the need of the hour is for one or two Indian companies to feature prominently among the global top five. India must secure its place there,” the prime minister said.
Official data shows that the Indian pharmaceutical industry is third in the world by volume and eleventh by value. The sector includes more than 3,000 companies and 10,500 manufacturing units. The domestic market is valued at $60 billion and is projected to reach $130 billion by 2030.
The Economic Survey 2025-26 states that the pharmaceutical sector’s annual turnover reached Rs 4.72 lakh crore in FY25. Exports grew at a compound annual growth rate of 7 per cent from FY15 to FY25. India supplies about 20 per cent of the world’s generic medicines and produces around 60,000 generic brands in 60 therapeutic categories. India is eleventh globally in pharmaceutical exports by value. In 2024-25, India exported medicines to 191 countries, with half of these exports going to regulated markets like the United States and Europe. Pharmaceutical exports in 2024-25 were $30.5 billion, up from $1.9 billion in 2000-01.
Despite this growth, Indian pharmaceutical companies are not yet among the world’s top firms. Sun Pharmaceutical Industries Ltd is one of the leading generic drug manufacturers.
In April, Sun Pharmaceutical Industries said it would acquire US-based Organon & Co. for $11.75 billion. After the deal, Sun Pharma expects to be among the top 25 global pharmaceutical companies, with combined revenue of $12.4 billion. The acquisition is expected to strengthen its position in established brands and branded generics.
