Pharma Growth Roadmap: India Targets $450 Billion by 2047
Securing global medicine supply chains and expanding high-value manufacturing emerged as central themes at a pharma sector discussion held in Ahmedabad on Friday, October 23. Industry leaders and experts said coordinated efforts between industry, government, regulators and academia are needed to strengthen India's position worldwide.
Dr. Viranchi Shah, President of the Indian Drug Manufacturers' Association (IDMA), addressed the CII Pharma Summit 2026 and said India is widely called the “Pharmacy of the World.” He said Gujarat, which contributes nearly 30 percent of the country's pharmaceutical manufacturing, has emerged as its pharma capital.
According to Dr. Shah, the government's vision under Prime Minister Narendra Modi is to lead not just in volume but also in value-added products and innovation. He said a range of policies and industry initiatives are advancing this agenda.
“If the present growth continues, the Indian pharma industry could reach around $450 billion by 2047, during Amrit Kaal,” Dr. Shah said. The summit, he added, is designed to help stakeholders decide the practical steps needed to hit this target.
He also stressed that green chemistry and environmental standards are integral to the sector's development strategy. Bulk drug parks coming up across the country are moving toward global norms for wastewater treatment and pollution control.
“The pharma sector is not only about saving lives. It also wants to ensure it does not become part of the global pollution challenge,” he said, adding that the industry is working on sustainable and eco-friendly models.
On bilateral ties, Dr. Shah said pharmaceuticals are rapidly becoming a major pillar of India-US strategic cooperation, with both countries giving the sector a prominent place in their shared priorities. He pointed to recent discussions between the two nations.
He also suggested that a large portion of the US drug supply chain could shift to India over time, a move that would benefit Indian manufacturers and help American patients access affordable medicines and healthcare.