Indian pharma industry likely to grow by 11% to $41.9 bn in FY20: Report

The industry is expected to grow at around 12 per cent and reach $20.4-$20.8 billion in the domestic market

Helped by the growth in domestic and export markets, India's pharma industry is set to rise by 9-11 per cent over the previous fiscal and it is likely to touch $41.9 billion in FY20.

While on the domestic front, the industry is expected to grow at around 12 per cent and reach $20.4-$20.8 billion during FY20, exports are likely to touch $21.1 billion in this fiscal with a growth rate of 8 to 10 per cent, according to a study by Care Ratings.

“Moreover, the need for affordable healthcare in pharmemerging and developed nations are likely to support exports of