India poised to lead pharma innovation
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India is poised to lead pharma innovation, building on its existing strengths in generic medicine production and scientific capability. The country's pharmaceutical industry is expected to grow, with the government introducing initiatives such as the Biopharma SHAKTI scheme to support clinical trials and innovation.
India's pharmaceutical industry is a significant player globally, supplying over 20% of generic medicines by volume. The country's pharma exports are close to $30 billion, but its share of global new molecular entity approvals remains low. To address this, the government has introduced the Biopharma SHAKTI scheme, which aims to establish a network of clinical trial sites and strengthen regulatory capacity. India has a strong foundation for innovation, with biotech clusters in Hyderabad, Pune, and Bengaluru, and global capability centers conducting drug discovery and data science work. The country has also demonstrated capability in biologics, producing biosimilar versions of complex medicines. With initiatives such as the Promotion of Research and Innovation in Pharma MedTech Sector scheme, India is positioning itself as a promising AI-enabled drug discovery environment.
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