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9 Steps to Make India a Global Pharma Export Powerhouse

India’s pharmaceutical sector is already a global heavyweight, known as the “pharmacy of the world” for its massive production of generic medicines. [10, 9] But the ambition doesn’t stop there. The nation is now aiming to become the “healthcare custodian of the world,” with a bold roadmap to skyrocket exports from $27 billion in 2023 to a staggering $350 billion by 2047. [4, 9] This isn’t just about increasing volume; it’s about a strategic shift towards higher-value products and solidifying India’s position as a top-tier player in the global pharmaceutical landscape.

Here’s a breakdown of the key strategies India is deploying to achieve this ambitious goal:

1. Setting Ambitious, Phased Growth Targets

India’s vision for its pharmaceutical export growth is clearly defined with phased targets. The immediate goal is to more than double exports to $60-65 billion by 2030. [2, 4] The long-term aspiration is to hit $350 billion by 2047, which would secure India a place among the top five pharmaceutical exporting nations by value. [2, 4]

Sector-Specific Projections (USD Billion):

Segment	2023	2030 (Projected)	2047 (Projected)
Generic Drugs	19	35–40	180–190
APIs	5	15–20	80–90
Biosimilars	0.8	4.2	30–35
Innovative Drugs	<1	5–7	13–15

(Source: Bain & Company analysis)

Achieving this will require a significant increase in the export of high-value products like biosimilars and novel therapies, which currently form a small fraction of India’s pharma exports.

2. Shifting from Volume to Value

While India is a leader in the volume of generics it supplies (about 20% globally), the focus is now shifting towards capturing greater value. [2, 9] This means concentrating on:

Specialty Generics: These are complex formulations, such as oncology injectables or inhalers, which command higher prices.
Biosimilars: With a strong pipeline of over 40 biosimilars in development, India’s biosimilar exports are projected to grow significantly, from $0.8 billion in 2023 to an estimated $30-35 billion by 2047. [2, 4, 11]
Novel Therapies: Investing in the development of new drugs, including gene therapies and mRNA vaccines, is crucial for long-term value creation.

Sriram Shrinivasan, Partner at Bain & Company, emphasizes this shift: “Innovation in biosimilars and specialty generics will drive India’s value-led growth, moving beyond commodity generics.”

3. Supercharging Innovation: Specialty Generics, Biosimilars, and Novel Therapies

Innovation is at the heart of India’s strategy.

Specialty Generics: Indian companies are increasingly investing in R&D and leveraging regulatory pathways like the 505(b) route in the U.S. for faster approvals of complex generics.
Biosimilars: The Indian biosimilars market is expected to grow fivefold to $4.2 billion by 2030. [2, 4, 11] This growth will be driven by factors like regulatory simplifications in markets like the US and increasing R&D investments.
Novel Therapies: While currently a smaller segment, the development of New Chemical Entities (NCEs) and New Biological Entities (NBEs) is a key long-term goal, with innovative product exports potentially reaching $13-15 billion by 2047.

4. Strengthening the Backbone: APIs and Bulk Drugs

India is actively working to reduce its reliance on imported Active Pharmaceutical Ingredients (APIs), particularly from China. Key initiatives include:

Bulk Drug Parks: The government is promoting the establishment of three major bulk drug parks with a financial outlay of around $350 million to create common infrastructure facilities. These parks, located in Gujarat, Andhra Pradesh, and Himachal Pradesh, aim to reduce manufacturing costs and enhance competitiveness. The goal is to increase API exports from $5 billion to $80-90 billion by 2047.
Production Linked Incentive (PLI) Schemes: The government has launched PLI schemes, earmarking close to $3 billion for pharmaceuticals and medical devices, to boost domestic manufacturing of critical KSMs (Key Starting Materials), DIs (Drug Intermediates), and APIs. [2, 11]

These efforts are crucial for building self-sufficiency and ensuring supply chain resilience. [2, 9]

5. Embracing the QuRATE Framework

The “QuRATE” framework – focusing on Quality, Regulation, Access, Talent, and Entrepreneurial Innovation – is a cornerstone of the roadmap. [2, 9]

Quality: Adopting global best practices like WHO Good Manufacturing Practices (GMP) and recent revisions to Schedule M are aimed at enhancing product quality and compliance.
Regulation: Harmonizing Indian regulatory standards with global benchmarks, such as ICH guidelines, and initiatives like a unified digital regulatory platform are underway to streamline approvals and ensure compliance.
Access: Facilitating easier access to global markets through strategic trade agreements and addressing non-tariff barriers.
Talent: Focusing on skilling and upskilling the workforce to meet the demands of advanced manufacturing and R&D.
Entrepreneurial Innovation: Fostering a vibrant startup ecosystem to drive innovation in niche areas.

6. Investing in World-Class Infrastructure

Beyond the bulk drug parks, broader investment in infrastructure is critical. This includes:

Upgrading Manufacturing Facilities: Encouraging the adoption of Industry 4.0 technologies to improve efficiency and quality.
Improving Logistics: Enhancing transportation and cold chain facilities to ensure timely and secure delivery of pharmaceutical products.

7. Fostering Public-Private Collaboration

Synergy between the government and the private sector is essential for achieving these ambitious export targets. [2, 4] This includes:

Joint R&D Initiatives: Collaborative projects between industry, academia, and government research institutions.
Policy Support: Continued government backing through schemes like PLI and initiatives to ease the cost of doing business.

Union Minister Piyush Goyal has emphasized this, stating, “By strengthening collaboration between academia, industry, and government, we will continue to build a globally competitive sector that drives growth and contributes to healthcare worldwide.”

8. Harnessing Digital and AI Power

Digital transformation is a key enabler for the pharmaceutical industry. [2, 4, 9, 11]

AI in R&D: Artificial intelligence is being leveraged to accelerate drug discovery and development processes. [2, 11]
Digital Manufacturing: Implementing smart factory solutions to enhance efficiency, reduce errors, and ensure consistent quality.
Supply Chain Optimization: Using digital tools for better planning, procurement, and end-to-end tracking of the pharmaceutical supply chain.
B2B Marketplaces: Platforms like Pipelinepharma are playing a crucial role in connecting Indian manufacturers with global buyers. Their extensive database of EU CTD dossiers and advanced search filters help Indian exporters meet complex regulatory requirements and access new markets efficiently. Pipelinepharma’s focus on EU GMP-certified products aligns with India’s push for quality and value-driven exports.

9. Expanding Global Market Access

While India has a strong presence in many markets, there’s significant untapped potential, particularly in North America and Europe where India’s generic formulation export penetration is under 5%. [2, 4] Strategies include:

Country-Specific Export Strategies: Tailoring approaches for different markets.
Mutual Recognition Agreements (MRAs): To reduce redundant testing and expedite approvals in key markets.
Geographic Diversification: Targeting underpenetrated markets in regions like Latin America and Africa.

By focusing on these strategic pillars, India is well on its way to not just maintaining its position as the “pharmacy of the world,” but evolving into a global pharma export hub recognized for innovation, quality, and value.

As India strengthens its position as a global pharmaceutical export powerhouse, navigating the complexities of international markets and connecting with the right partners becomes crucial. For pharmaceutical manufacturers in India looking to expand their global reach and for international buyers seeking reliable Indian suppliers, Pipelinepharma offers a streamlined B2B marketplace to facilitate these connections and foster growth in this dynamic industry.