section_path: Economy/Industries
section_name: Industries
paragraph_text: Industries
  
  The Indian automotive industry, the world's second-fastest growing, increased domestic sales by 26% during 2009–2010, and exports by 36% during 2008–2009. In 2022, India became the world's third-largest vehicle market after China and the United States, surpassing Japan. At the end of 2011, the Indian IT industry employed 2.8 million professionals, generated revenues close to US$100 billion equalling 7.5% of Indian GDP, and contributed 26% of India's merchandise exports.
  
  The pharmaceutical industry in India includes 3,000 pharmaceutical companies and 10,500 manufacturing units; India is the world's third-largest pharmaceutical producer, largest producer of generic medicines and supply up to 50–60% of global vaccines demand, these all contribute up to US$ 24.44 billions in exports and India's local pharmaceutical market is estimated up to US$ 42 billion. India is among the top 12 biotech destinations in the world. The Indian biotech industry grew by 15.1% in 2012–2013, increasing its revenues from ₹ 204.4 billion (Indian rupees) to ₹ 235.24 billion (US$3.94 billion at June 2013 exchange rates).