India Biopharma Development: Beginning of a new era of Indian pharmaceutical industry from 2026, the goal of 500 billion dollars in pharmaceutical manufacturing

• 2026 is an important year for India’s pharmaceutical industry
• 500 billion dollar target for pharmaceuticals by 2047
• Growth from $3 billion to $60 billion in last 25 years

India Biopharma Development: The year 2026 marks the beginning of a crucial five-year period for India’s pharmaceutical industry, which will create the necessary environment to establish itself as an innovation hub and achieve its goal of becoming a $500 billion sector by 2047. These efforts are being made amid near-term challenges such as tariff fluctuations and global trade restructuring. The country’s pharmaceutical industry, mainly based on generic drugs, has grown from $3 billion to $60 billion over the past 25 years. Innovation is now underway in next-generation drugs.

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The industry will seek to take advantage of the opportunity to acquire more than $300 billion worth of drugs whose exclusive rights are set to expire over the next seven years. Indian Pharmaceutical Association General Secretary Sudarshan Jain said that the Indian pharmaceutical industry is at a critical juncture today and the next 25 years will be defined by innovation, quality and access, adding that the innovation agenda among domestic pharmaceutical companies is gaining significant momentum. Jain also said that the five years after 2026 will be crucial for implementation, translating policy momentum into concrete achievements so that India can achieve its goal of becoming a $450-500 billion industry by 2047 and establishing itself as a global life sciences innovation hub.

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Welcoming the supportive policies, he said the Research and Innovation Promotion Scheme (PRIP) in the pharmaceutical and medical technology sector has received a strong response from the industry, which marks a significant start. Jain said the newly announced research and development incentive scheme that makes bio-manufacturing a key sector is particularly timely, especially as more than $300 billion worth of drugs will be sold in the next seven years.