Eco Survey: Indian Pharma Shifts to Value-Driven Approach, Focus on Innovation

• India's pharmaceutical industry is transitioning from a volume-driven to a value-driven model, emphasizing complex generics, biosimilars, and innovation.
• The sector is the world's third-largest by volume, fulfilling 20% of global generics demand, with exports to 191 countries in FY25.
• Annual turnover reached Rs 4.72 lakh crore in FY25, with exports growing at a 7% CAGR over the last decade.
• Over 50% of exports go to highly regulated markets like the US and Europe; India ranks 11th globally in pharma exports by value.
• The medical devices sector is also growing, with exports reaching USD 4.1 billion in FY25, and is adopting advanced manufacturing technologies.

Why It Matters: India's pharma and medical devices sectors are evolving towards high-value products and advanced manufacturing.