Target is to boost India’s share in global pharmaceutical trade to $450 billion by 2047: Drugs Controller General
The Drugs Controller General of India has set a target to increase India's pharmaceutical trade to $450 billion by 2047. Officials are urging companies to shift from generic drug production to high-value innovation.
Why it matters
This shift represents a strategic pivot for India's massive pharmaceutical industry to move up the global value chain.
Rajeev Singh Raghuvanshi, Drugs Controller General of India, said the country has set a target of achieving $450 billion by 2047 in global pharmaceutical trade as per the vision of Prime Minister Narendra Modi’s Viksit Bharat.
The article reports on government policy and industry goals using official statements and expert quotes.
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