India Targets $350 Billion Pharmaceutical Export Value by 2047, Report Shows

India sees its pharmaceutical export market projected to reach $350 billion by 2047, according to a DD News report, up from roughly $30.5 billion recorded in FY25, suggesting a ten‑fold increase over the next two decades.

Production linked incentive schemes launched in 2020 target pharma, bulk drugs and medical devices, have drawn more than Rs 46,700 crore of private capital, and are credited with expanding capacity, modernising plants and raising export‑ready output.

Export growth is driven by strong worldwide demand for affordable generic medicines, India's cost‑competitive production base, and an expanding portfolio of FDA‑approved drugs, positioning the country as a major supplier to the United States, Europe and African markets.

Implications include potential creation of hundreds of thousands of jobs, higher foreign‑exchange earnings that could strengthen the balance of payments, greater bargaining power in trade talks, and mounting pressure on firms to improve quality standards and secure supply‑chain resilience.