Indian Pharma Industry Size Expected To Reach US $130 Billion Mark By 2030

Union Minister for Chemicals and Fertilizers, D V Sadananda Gowda addressed the curtain raiser Press Conference on the 6th Edition of 'India Pharma & India Medical Device 2021'. Briefing the media, Gowda said that the government through its various policies and schemes is encouraging the manufacturing of affordable medical devices and pharmaceutical under its 'Make in India' initiative. The India Pharma 2021 & India Medical Device 2021 will lay the groundwork for the next wave of development. He added saying that India is a leading exporter of affordable generics and a major hub for medical devices and diagnostics. India has been serving more than 200+ countries and territories with its Pharma products and will continue to discharge its responsibilities. The government intends to continue formulating plans that are based on sound science, technology, business sense, and ethics. The total market size of the Indian Pharma Industry is expected to reach the US $ 130 Billion by 2030. The medical devices industry in India has the potential to reach $ 50 bn by 2025.

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