Global Ranking: India's pharmaceutical industry is the third-largest globally by volume and valued at $50 billion for the 2023-24 financial year.

Product Range: The industry produces a variety of products, including generic drugs, bulk drugs, over-the-counter medications, vaccines, biosimilars, and biologics.

Economic Contribution: In FY 2022-23, the sector produced ₹4,56,246 crores, with a value addition of ₹1,75,583 crores, and employed approximately 9,25,811 individuals.

Educational Initiatives: The Department of Pharmaceuticals established seven National Institutes of Pharmaceutical Education and Research (NIPERs), which are recognized as institutions of national importance.

Research and Development: A national policy has been introduced to promote research, development, and innovation in the pharmaceutical and medical devices sectors.

The industry aims to enhance its global presence by encouraging innovation and improving the quality of healthcare products.