The North News
Chandigarh, September 30
India’s pharmaceutical exports, currently valued at nearly $27.8bn, are expected to surpass $30bn by the end of this year, Union Minister Jitendra Singh said on Tuesday. Speaking at the signing of an agreement between the Department of Biotechnology (DBT) and the Uttar Pradesh government, Dr Jitendra Singh also noted that India’s domestic pharma market, worth $60bn, is projected to more than double to $130bn by 2030. The Memorandum of Understanding, executed through DBT’s Biotechnology Industry Research Assistance Council (BIRAC) and the Uttar Pradesh Promote Pharma Council (UPPPC), aims to accelerate innovation, entrepreneurship and investment in pharma, biotech and MedTech.
Dr Jitendra Singh highlighted India’s rapid growth in biotechnology, from about 50 startups in 2014 to more than 11,000 today, and said the sector had made India a leading global supplier of vaccines, accounting for over 60% of the world’s supply. Officials said the collaboration would strengthen research, foster skill development, and expand industry linkages, particularly with SMEs and MSMEs. Uttar Pradesh officials underlined the state’s ambition to become a hub for pharma and biotech, citing projects such as the Biotech Park in Lucknow and the Medical Device Park in Greater Noida.
The minister said such centre–state partnerships would advance India’s healthcare goals and reinforce its role as a provider of affordable solutions “made in India, made for the world.”
