From Generics to Invention

Seven policy milestones that shaped India’s pharmaceutical export growth, each backed by trade data, company revenues, and patent filings.

From 7,158 patent filings in 2014 to 18,668 in 2024. CDSCO approvals rising. The shift from generics manufacturing to research-driven invention.

When crisis strikes, India sends medicine. Since 2023, the Ministry of External Affairs has shipped essential medicines, vaccines, and medical equipment to 56 countries, separately from trade.

How India keeps drug prices low: DPCO price controls, 384 essential medicines under regulation, 3,000+ manufacturers competing on generics. The pricing architecture behind the Pharmacy of the World.

India’s $60 billion home market, the third largest in the world by volume. The foundation of manufacturing scale, quality infrastructure, and competitive pricing that powers global exports.

From $31 billion in FY26 to a $65 billion export target by 2030. The official Bain/Pharmexcil roadmap, the growth levers, and an honest look at what the data says about the trajectory.