Indian Pharma Needs to Go Beyond Generics to Unlock USD 130 Billion Market Potential: Experts

With India targeting a pharmaceutical market of USD 130 billion by 2030, experts at a recent industry event in Hyderabad said the next phase of growth would require greater investments in research and development, digital technologies and contract research and development manufacturing.

The discussions were held ahead of the 19th edition of CPHI & PMEC India 2026, scheduled to be held in November across venues in Delhi-NCR.

The official launch and precursor event of CPHI & PMEC India 2026, held under the banner of the Pharma Leadership Exchange, brought together pharma leaders, CXOs, industry stalwarts, and key voices from across India's pharmaceutical and life sciences ecosystem.

Sarvesh Singh, CEO, Lifesciences and Pharma, Government of Telangana, said the state, already a major pharmaceutical manufacturing and vaccine hub, was seeking to move up the value chain.

"Telangana has already established itself as India's pharmaceutical manufacturing powerhouse and a global vaccine hub, but our ambition now goes beyond manufacturing. We want Telangana to emerge as the life sciences innovation capital of India," he said.

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Singh said the state was focusing on biologics, biosimilars, cell and gene therapies and other areas where biology, chemistry and technology converge.

"Through our Next-Gen Life Sciences Policy 2026-2030, we aim to attract USD 25 billion in investments and create more than five lakh jobs over the next five years," he said.

M Roja Rani, Executive Director, Bulk Drug Manufacturers Association of India, said India had built strong capabilities in bulk drugs and APIs but needed to reduce dependence on imported key starting materials and intermediates.

"The capability to manufacture is well established; the priority now is to strengthen competitiveness, reduce dependence on imported key starting materials and intermediates, and build greater depth across the domestic value chain," she said.

Rani said greater investment in research and development, new technologies and API capacity would be essential over the next three to five years, while initiatives such as the PLI scheme and bulk drug parks could further strengthen domestic manufacturing.

Yogesh Mudras, Managing Director, Informa Markets in India, said India was entering a defining decade for pharmaceuticals, with its strengths in science, talent and manufacturing translating into higher-value opportunities.

"The CRDMO industry is projected to reach around USD 14 billion by 2028, with estimates pointing to an opportunity of up to USD 22 billion by 2030. Realising this potential will depend on how effectively the industry advances quality, technology, capability and global collaboration," he said.

Mudras said CPHI & PMEC India would provide a platform for industry stakeholders to collaborate and convert these opportunities into long-term growth.

Pushpa Vijayaraghavan, Director, Healthcare and Lifesciences Advisory, Sathguru Management Consultants, said India would have to progress simultaneously across generics, APIs, biologics, biosimilars and innovation.

"We have to preserve our generics base, move faster on API backward integration, build scale in biologics and biosimilars, and invest far more seriously in innovation," she said.

Chakravarthi AVPS, Chairman, Federation of Pharma Entrepreneurs, Telangana and Andhra Pradesh, said compliance was now the baseline for pharmaceutical companies, with innovation and technology becoming the key differentiators.

"The next phase of growth must go beyond cost competitiveness. Compliance is now the baseline; the real competitive advantage will come from innovation, advanced and sustainable packaging, traceability, technology and globally benchmarked quality," he said.

CPHI India will be held at IICC, Yashobhoomi, Dwarka from November 23-25, while PMEC India will be held at IEML, Greater Noida from November 24-26.