Maharashtra: A Major Player in the Indian Pharma Industry

Maharashtra: A Major Player in the Indian Pharma Industry

India is the 3^rd largest pharma industry in the world in terms of volume and 14^th largest in terms of value. The Indian pharmaceutical industry accounts for 3.5% of global medicine and drug exports.

India is the largest provider of generic drugs in the world, and is known as the ‘Pharmacy of the World’. India is one of the major players in the global pharmaceutical industry, contributing to the global healthcare by providing low cost and high quality medicines to the world. India exports pharma products to more than 200 countries in the world including the USA, the UK, Japan, Australia, EU countries, etc.  India supplies over 62% of global vaccines in the world.      

India is home to a large number of US FDA compliant pharma manufacturing units outside the USA. The cost of pharma manufacturing in India is approximately 33% lower than the cost in the USA. 100% FDA is the pharma industry under automatic route for the greenfield projects. In the brownfield projects FDIs upto 74% are allowed under the automatic route and remaining under government route.

The Indian pharma industry is source of 60,000 generic brands and 500 different APIs. The Indian API industry is the third-largest in the world, contributing to 57% of APIs to the prequalified list of WHO. India is home to more than 3,000 pharmaceutical companies with a robust network of 10,500 manufacturing facilities in the country. 

The Indian pharma industry gained attention of world right after the Covid-19 outbreak as potential supplier of drugs to people across the globe. The pharma industry was badly hit by the coronavirus pandemic and the after math country wide lockdowns during the first quarter of 2019. However, with the easing of restrictions in the country on the movement of people have helped the industry regain momentum. Apart from that the digital drive of pharma companies by adopting digital methods of operations have enabled to improve their performance in short period of time. The growth will continue in future and will probably increase manifold in the coming years. 

Maharashtra is one forerunners in the country in the pharma industry. Maharashtra contributes to over 11% of India’s pharma industry. There are more than 3000 pharma companies in Maharashtra in and around the cities of Mumbai, Pune, Aurangabad, etc.        

If you are planning to start pharma manufacturing business in Maharashtra, then register with SolutionBuggy and get access to expert pharma consultants. Our pharma consultants in Mumbai help you address the challenges in setting up the pharma industry. SolutionBuggy’s expert pharma project consultants in Mumbai understand your technical and business challenges and allow you start the pharm plant in a hassle free manner by undertaking the complete execution of your project.