PharmaMed 2026: India's Pharma Industry Eyes $130 Billion Revenue by 2030

India's pharmaceutical industry is on track to achieve $130 billion in annual revenue by 2030, up from $78 billion in FY26, according to projections presented at the PharmaMed 2026 conference in Hyderabad.

Health Minister JP Nadda announced a new ₹10,000 crore Production-Linked Incentive (PLI) scheme specifically for biosimilars and complex generics, areas where India currently trails behind China and the EU.

"India already supplies 60% of the world's vaccines and 20% of global generic drugs. The next frontier is biosimilars, where we can save global healthcare systems trillions of dollars," said the minister.

Key trends at the conference included AI-driven drug discovery (with Bengaluru startup Innoplexus demonstrating a platform that reduced drug discovery timelines from 5 years to 18 months), the rise of contract research organisations (CROs), and India's growing role as a global clinical trial hub.