The role of Pharmaceutical Industry in India’s GDP (Gross Domestic Product) is immense. For the past few years, multinational pharmaceutical corporations outsource these activities and help the growth of the sector. Pharmaceutical Industry in India is one of the largest in the world and let’s see how it contributes to our nation’s GDP.

• India’s Pharmaceutical Industry ranks 3rd in terms of volume and 14th in terms of value.
• In 2002, over 20,000 registered drug manufacturers in India sold $9 billion worth of formulations and bulk drugs.
• 85% of these formulations such as Bis(2-chloroethyl)amine hydrochloride were sold in India while over 60% of the bulk drugs were exported, mostly to the United States and Russia.
• The domestic market is worth US$13.8 billion as of 2013, and is expected to reach US$49 billion by 2020.
• Almost most 70% of the domestic demand for bulk drugs is catered by the Indian Pharmaceutical Industry.
• Around 40% of the total pharmaceutical produce is exported.
• Most of the players in the market are small-to-medium enterprises (SME).
• The Pharmaceutical Industry in India is one of the major foreign direct investments encouraging sectors.
• 55% of the total exports constitute of formulations such as 3-Dimethylaminopropyl chloride hydrochloride and the other 45% comprises of bulk drugs.
• The Indian Pharma Industry includes small scaled, medium scaled, large scaled players, which totals nearly 300 different companies.
• Indian and global companies have expressed 175 investment intentions worth Rs. 1,000 crore (US$ 150.84 million) in the pharmaceutical sector of Gujarat.

The Indian pharmaceutical market size is expected to grow, driven by increasing consumer spending, rapid urbanization, and raising healthcare insurance among others.