Hyderabad, June 9 -- India has emerged as the "Pharmacy of the World" through its scale, quality, affordability and reliable supply of medicines, Ravi Teja, Deputy Director, Department of Commerce, Government of India, said on Tuesday.
Addressing a press conference in Hyderabad on the occasion of completion of 12 years of Prime Minister Narendra Modi's government and India's pharmaceutical export growth, he said the Indian pharmaceutical sector had grown from around USD 20 billion to USD 60 billion over the last 12 years and was expected to touch USD 130 billion by 2030.
He said India's pharmaceutical exports increased from USD 14 billion in FY2015 to USD 31 billion in FY2026, registering a compound annual growth rate of 7.22 per cent. In...