Economic Survey 2025-26 highlights India's pharma shift to value-driven innovation

Key facts

• India's pharmaceutical industry is the world's third-largest by volume, meeting approximately 20 per cent of global generics demand.
• In FY25 the sector's annual turnover reached Rs 4.72 lakh crore, with exports growing at a CAGR of 7 per cent over the last decade (FY15 to FY25).
• India exports pharmaceuticals to 191 countries in FY25, with over 50 per cent of exports directed to highly regulated markets such as the US and Europe.
• India ranks 11th globally in pharmaceutical exports by value, with a 3 per cent share.
• Medical devices exports have grown from USD 2.5 billion in FY21 to USD 4.1 billion in FY25.
• India provides a majority of the world's diphtheria, tetanus and pertussis (DPT), Bacillus Calmette-Guerin (BCG) and measles vaccines.
• India's medical devices sector exports to 187 countries in FY25 and now manufactures high-end equipment including MRI and CT scanners, linear accelerators, cardiac stents, and ventilators.