pharmaceutical industry in india pharmaceutical industry in india the pharmaceutical industry in india was valued at an estimated us$42 billion in 2021. india is the world's largest provider of generic medicines by volume, with a 20% share of total global pharmaceutical exports. it is also the largest vaccine supplier in the world by volume, accounting for more than 50% of all vaccines manufactured in the world. with industry standards compliant mega production capabilities and large number of skilled domestic workforce, indian exports meet the standards and requirements of highly regulated markets of usa, uk, european union and canada. according to the department of pharmaceuticals, ministry of chemicals and fertilizers, domestic pharmaceutical market turnover reached rs 129,015 crore (us$18.12 billion) in 2018, growing 9.4 per cent year-on-year and exports revenue was us$17.28 billion in fy18 and us$19.14 billion in fy19. as of 2021, most of pharmaceuticals made in india are low cost generic drug which comprise most of pharmaceutical export of india. patented medicines are imported. apis are imported from china (60% supplies by volume worth us$2.4 billion) and germany (us$1.6 billion) as well as from us, italy and singapore. to foster an atmanirbhar bharat by enhancing the r&d, make in india product development and high-value production capabilities, import substitution and domestic manufacture of active pharmaceutical ingredient (api) the government has introduced a us$2 billion incentive program which will run from 2021–22 to 2027–28. in 2019 the department of pharmaceuticals announced that as part of the make in india initiative, drugs for local use and exports must have 75% and 10% local apis respectively and a bill of material must be produced for verification. during 2018–2021, india ranked third globally in terms of dollar value of drugs and medicines exports. major pharmaceutical hubs in india are (anticlockwise from northwest): vadodara, ahmedabad, ankleshwar, vapi, baddi, sikkim, kolkata, visakhapatnam, hyderabad, bangalore, chennai, margao, navi mumbai, mumbai, pune and aurangabad,pithampur. overview