India Pharma Outlook Team | Monday, 18 August 2025
The implementation of new policy frameworks, India’s pharmaceutical contract manufacturing industry is emerging as a key player on the global stage,” said Sameer Hiremath, Vice Chairman and Managing Director, Hikal Ltd.
Hikal Ltd. provides active ingredients, intermediates, and research and development services to businesses in the pharmaceutical, life sciences, biotechnology, agrochemical, and specialty chemical industries. He claimed that for many years, Indian pharmaceutical companies were viewed as the less expensive alternatives, prepared to take over in the event that global supply networks failed, but they were rarely trusted with high-stakes manufacturing. Right now, that story is changing very quickly.
India's pharmaceutical reforms have been in line with a number of worldwide initiatives, including the U.S.'s BIOSECURE Act, Europe's shift toward strategic autonomy, and Japan's reassessment of supply chain dependencies. He continued by saying that taken together, they have transformed India from a backup plan to a key player in pharmaceutical supply chains.
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Mr. Hiremath said India’s ?15,000-crore PLI scheme for bulk drugs and a broader PLI for formulations have improved the economic attractiveness of Indian manufacturing. “The government’s support has aligned domestic conditions with global business expectations, from APIs to biologics,” he said.
“Together, these developments have unlocked massive potential. Grand View Research, projects India’s CDMO market to grow to $21 billion by 2030—an 8% CAGR. Consulting firms like McKinsey believe that these strategic shifts could push India’s pharma exports beyond $60 billion in the coming years from $28 billion currently,” he said.
