India targets $120 billion pharma industry as exports, innovation drive growth

7 July 2026

India is aiming to double the size of its pharmaceutical industry to $120 billion over the next five years, with the government betting on exports, innovation and global partnerships to sustain the sector's next phase of growth.

Commerce Minister Piyush Goyal said India's pharmaceutical sector has evolved into a global manufacturing hub and is now well-positioned to expand its footprint in both regulated and emerging markets.

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