India’s pharmaceutical exports, currently valued at nearly $27.8 billion, are set to cross the $30 billion mark by the end of this year, Union Minister of State (Independent Charge) for Science and Technology Dr. Jitendra Singh said on Tuesday.
The Minister added that the country’s domestic pharma market, now at $60 billion, is expected to double to $130 billion by 2030. He also underlined the rapid expansion of India’s MedTech sector, which is growing at an annual rate of 15-20%, supported by around 800 medical device manufacturers nationwide.
Singh was speaking at the signing of a Memorandum of Understanding (MoU) between the Department of Biotechnology (DBT) and the Government of Uttar Pradesh to boost innovation and investment in pharma, biotech, and MedTech. The collaboration, executed through DBT’s Biotechnology Industry Research Assistance Council (BIRAC) and the Uttar Pradesh Promote Pharma Council (UPPPC), is part of a centre-state partnership model aimed at strengthening India’s healthcare and biotechnology ecosystem.
Focus on Innovation and Startups
The partnership will focus on advancing research, nurturing startups, building skill capacity, and fostering stronger industry linkages, especially for SMEs and MSMEs. Officials said it would also help catalyze investment in emerging technologies and accelerate commercialization.
Highlighting India’s growing innovation pipeline, Singh said the country’s biotech startup base has grown from just 50 in 2014 to more than 11,000 today. He credited this growth to a supportive policy environment and a whole-of-government approach to strengthening the sector.
“India is now recognized as a global supplier of vaccines, with more than 60% of the world’s vaccines manufactured here and over 200 countries receiving Indian-made doses,” he said, adding that partnerships such as the DBT-UP agreement will help advance the vision of Viksit Bharat 2047.
Uttar Pradesh’s Pharma Push
Senior officials from Uttar Pradesh emphasized the state’s ambition to become a hub for pharma, biotech, and MedTech. They highlighted projects including the Biotech Park in Lucknow, the Medical Device Park in Greater Noida, and the Bulk Drug & Pharma Park in Lalitpur, which will be scaled up under the new collaboration.
Advisor to the Chief Minister Awanish Kumar Awasthi said DBT–BIRAC’s support would help nurture startups, foster research collaborations, and create a stronger ecosystem for affordable healthcare innovations.
Strengthening India’s Bioeconomy
With India’s bioeconomy currently valued at around $165 billion, the Centre sees state partnerships as a critical step to expand its global footprint. DBT Secretary and BIRAC Chairman Dr. Rajesh S. Gokhale said the agreement would “unlock innovation pipelines and scale up affordable technologies,” while BIRAC Managing Director Dr. Jitendra Kumar stressed the importance of skill development, incubation, and commercialization to ensure innovations reach markets faster.
The MoU signing was attended by Additional Chief Secretary of Uttar Pradesh Amit Kumar Ghosh, along with senior officials from DBT, BIRAC, and the Uttar Pradesh government.
Singh concluded that with coordinated efforts between the Centre and States, India is on track to reinforce its position as a global hub for affordable, accessible healthcare solutions – made in India, made for the world.
