India’s pharmaceutical and medical technology sectors are witnessing strong export growth in the current fiscal year, despite global economic challenges.
Arunish Chawla, secretary of the department of pharmaceuticals, informed that India is gearing up to develop sixteen drugs aimed at treating various diseases such as cancer, diabetes, HIV, and tuberculosis. The initiative is part of the government’s renewed focus on supporting the country’s drug development efforts.
Chawla highlighted India’s recent export performance, noting that despite a broader global export slowdown, Indian pharmaceuticals, biotechnology products, and bulk drugs have seen double-digit growth in the past year.
These sectors have now emerged as the fourth largest merchandise export category for the Indian economy, a major milestone for the industry.
He expressed confidence in the sustained growth of both the pharmaceutical and medical technology sectors, emphasizing India’s increasing role as an export leader in consumables and surgical products. Exports in areas such as imaging devices, body implants, and in-vitro diagnostics have also been on the rise.
On drug development, Chawla revealed that studies have identified 26 potential drugs, with sixteen of these currently undergoing various stages of approval and licensing. The drugs, which include both small and large molecules, are being developed by Indian companies benefiting from the Production Linked Incentive (PLI) scheme.
Several of these drugs have already received approval from the Drugs Controller General of India (DCGI), with the government now focusing on strengthening upstream value chains for biologics, including key components like amino acids, nucleotides, and vaccine raw materials.
Chawla also discussed the government’s plans to advance cell and gene therapies and the related healthcare infrastructure. As reported by knnindia.co.in, these efforts are expected to further solidify India’s growing influence in the global pharmaceutical and medical technology industries, positioning the country as a major player in these critical sectors.
