Union minister for chemicals and fertilizers JP Nadda urged India’s pharmaceutical industry to cut dependence on imported active pharmaceutical ingredients (APIs) and strengthen domestic manufacturing over the next decade.
Pushing India from ‘Pharmacy of the World’ to ‘Laboratory of the World’
At the 60th Annual Summit of the Organisation of Pharmaceutical Producers of India (OPPI), Nadda said India must shift its focus from primarily supplying medicines to leading global innovation. He stressed that the country needs to scale efforts in biosimilars, novel molecules, gene and cell therapies, AI-driven drug discovery and advanced diagnostics. He also emphasised that affordability and equitable healthcare should continue to guide India’s strategic growth in the sector.
Highlighting India’s Global Pharma Strength
Transitioning to India’s achievements, Nadda noted that the nation now supplies medicines to over 200 countries, meets a large portion of US and UK generic drug demand, and provides 60% of the world’s vaccines. He added that national initiatives such as Ayushman Bharat offer health coverage to more than 600 million people. The Jan Aushadhi scheme lowers the cost of essential drugs, creating strong healthcare foundations.
India’s Rapid Rise as a Research and Digital Innovation Hub
Nadda also underlined India’s expanding innovation ecosystem. The country today hosts over 1,600 Global Capability Centres (GCCs), many of which specialise in pharmaceuticals and life sciences. These centres are driving advanced R&D, digital development and technology-led drug discovery.
Industry Outlook
At the summit, EY-Parthenon and OPPI released a report projecting that India’s pharmaceutical industry could reach $450 billion by 2047. This growth will require stronger innovation pipelines, improved Contract Research, Development and Manufacturing Organization (CRDMO) capabilities and enhanced digital infrastructure across GCCs. The report also revealed that India’s CRDMO segment is set to grow from USD 7 billion to USD 14 billion by 2028. However, it highlighted a concern: India recorded only 19 new drug approvals in 2024, far behind leading global markets.
Key Priorities for Future Growth
To accelerate progress, the report identified several critical areas, including:
*Greater regulatory agility
*Higher R&D investment
*Innovation-focused financing
*Skilled talent development
As reported by knnindia.co.in, the measures, the report noted, will be essential for India to fully unlock its potential as a global innovation powerhouse.
