India’s Pharma Sector Surges to ₹4.17 Lakh Crore with ₹13,000 Crore FDI Boost

India’s pharmaceutical industry achieved a significant milestone in FY 2023–24, recording a turnover of ₹4.17 lakh crore, marking a 10% increase from the previous year. This growth underscores the sector’s robust expansion and its pivotal role in the global pharmaceutical landscape.

During the same fiscal year, the sector attracted ₹12,822 crore in foreign direct investment (FDI), reflecting global investors’ confidence in India’s pharmaceutical capabilities. The government’s initiatives, including the Production Linked Incentive (PLI) schemes, have been instrumental in this growth, supporting projects focused on manufacturing high-end drugs and critical raw materials.

India continues to solidify its position as the “pharmacy of the world,” supplying a significant share of generic medicines globally. With ongoing investments and supportive policies, the Indian pharmaceutical sector is poised for sustained growth, contributing to global healthcare advancements.