Pharma exports seen growing 10 times to $350 bn by 2047

India’s pharmaceutical industry exports are projected to reach $350 billion by 2047 — an estimated 10-15 times increase from the current levels, according to a new report by Bain & Company in collaboration with Indian pharmaceutical bodies. India currently ranks 11th in pharmaceutical export value and can secure a position among the top five nations by 2047. The country’s pharma exports are expected to grow from approximately $27 billion in 2023 to $65 billion by 2030, before reaching the ambitious $350 billion target by India’s 100th year of independence. Key to this growth will be India’s transition from a volume-based approach to a value-driven strategy. It identifies Active Pharmaceutical Ingredients (APIs), biosimilar and generic formulations exports. APIs exports, currently valued at $5 billion, are projected to reach $80-90 billion by 2047, as per a report.