Pharmaceutical business estimated to reach $130 billion by 2030: Industry experts

Noida: The country’s pharmaceutical business could exceed $130 billion by 2030. The reason for this is the increasing opportunities in the market and increasing demand abroad. Industry experts gave this information on Tuesday. The turnover in the financial year 2022-23 was more than $ 50 billion.

Veeramani SV, Chairman of PharmExil (Indian Pharmaceutical Export Promotion Council) said that the Indian pharmaceutical industry is on an attractive growth path. This is evidenced by the eight percent growth in exports so far and a remarkable 29 percent growth in October alone. He said, “This growth is due to increasing opportunities in the market, increasing demand in the US, and a serious shortage of medicines in the US and Europe….”