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The New Leap of Indian Pharma Export in FY23

By April 20, 2023Uncategorized


Pharma companies have seen significant growth in the industry, and technological advancement and growing demand are the main factors for this growth. The new rules are helping the industry, and new technology is making it easier to sell medicine. Indian medicine is known for being of good quality and for being innovative, so the future looks good for Indian medicine sales.

This blog will explore the growth of medicine export from India, the factors for the growth of top Indian pharma export companies, and their impact on the economy.


Factors Contributing to the Growth of the Pharmaceutical Industry in India

Here are some pointers explaining the factors briefly.

1. Government Initiatives to Boost Pharma Export

Some initiatives taken by the government to boost the pharma export are as follows:


  • In March 2022, the government announced the strengthening of the pharmaceutical industry (SPI) scheme with a total budget of 500 crores for FY 2021-22 to FY 2025-26.
  • After a hiatus, India resumed deliveries of COVID-19 shots to the COVAX program in November-December
  • In November 2021, Prime Minister Narendra Modi launched the inaugural Global Innovation Summit for the pharmaceutical industry. The summit will consist of 12 sessions with more than 40 speakers from both national and international backgrounds discussing various topics such as regulations, financing for innovation, and infrastructure for innovation.
  • The Department of Pharmaceuticals has launched a PLI (Production Linked Incentive) scheme to promote domestic manufacturing of essential bulk drugs to achieve self-sufficiency and reduce the country’s dependence on imports. The total cost of the scheme will be 6,940 crores and will be implemented between FY21 and FY30.

2. Investment in R&D and innovation

Research and development (R&D) are important in every industry. It is particularly essential in the biopharmaceutical research sector. It helps to save lives and increase profits. Developing new vaccinations and therapies is becoming increasingly difficult. Reliable R&D services can help pharmaceutical enterprises follow manufacturing methods, leading to the creation of numerous new medications.


In 2015, the industry spent Rs. 6,02,388 crore on R&D for novel medicines. The approval process for these export medicines can be lengthy, but the number of successful approvals determines the businesses’ ability to recoup their investment and profit.

3. Globalization

When India opened its socialist economy and began trading globally, big pharma exporters from the US and Europe entered the Indian market. They set up cheaper and more efficient production facilities offshore to reduce costs and expand their operations. This created opportunities for small-scale industries to grow their products. The entry of big pharma companies into the Indian market allowed smaller businesses to expand, create more opportunities, and export pharmaceutical products worldwide.

4. Quality and Compliance

Quality and compliance are crucial to India’s growth in the pharmaceutical industry. With the rising pharmaceutical sector, all companies must follow strict quality standards to ensure their products are safe. This led to more investment in research and development and better manufacturing processes.


By applying such factors, India’s pharmaceutical industry is recognized for producing high-quality products that follow international standards, which attracts more business and investment globally. This way, India can export medicines in a more accessible way.


Impact of the Growth of Pharmaceutical Companies on the Economy

The growth of India has had a significant impact on the country’s economy. Here are some ways in which the pharma exporters have contributed to the economy:

1. Improved Healthcare Access

The pharmaceutical industry in India has been growing rapidly. The government is helping more people afford healthcare and medicine by making them cheaper. India needs to have its medical industry so it doesn’t depend too much on China. Therefore, India is making plans to produce more medicine inside the country.


These plans are called “production-linked incentive” (PLI) schemes. The PLI schemes give money to Indian companies to help them make more medicine and medical equipment. The PLI schemes have been working well so far. In the last two years, nearly Rs. 16,435 crore has been given to 55 companies to help them make medicine.

2. Job Creation and Economic Benefits

A pharma exporter plays an important role in the Indian economy. Top Indian pharma export companies employ around 2.7 million people directly to the firm. It also creates employment through the supply chain.


The pharmaceutical sector also contributes to the country’s economic growth by generating revenue and promoting medicine export from India, a leading pharma exporter.


The government of India took several initiatives to promote the sector, including allocating funds for research and development, boosting domestic manufacturing, and promoting innovation to increase medicine export from India.

3. Increased Revenue and Growth for the Indian Pharma Industry

The pharmaceutical industry in India is a significant player in the global market. Here are some reasons why:


  • The Indian pharmaceutical industry is ranking third in production by volume and 14th by value.
  • From April 2000 and June 2022, foreign investment in India’s drugs and pharmaceutical industry was around $19.90 billion.
  • Cipla and Drugs for Neglected Diseases initiative (DNDi) teamed up to launch a new medicine in June 2022 to treat HIV in children in South Africa.
  • The Union Cabinet has approved FDI up to 100% under the automatic route for manufacturing medical devices subject to certain conditions.
  • In August 2021, Uniza Group signed an agreement with Lysulin Inc. to introduce Lysulin, a nutritional product for Indian consumers.

How can Pharmaceutical Companies Leverage the New Leap?

Pharmaceutical companies can leverage the new leap in various ways to expand their business and make a mark in the global market. Here are a few pointers:

1. Maximize Efficiency

Production efficiency refers to achieving output goals with minimal input. Collecting data from various areas makes it possible to identify improvement areas. Automation can also reduce the manual input, time, and resources required to complete tasks.


Efficiency can also be improved by the convergence of information technology (IT) and operational technology (OT) through the use of Industrial Internet of Things (IIoT) technology. It allows for data collected from production to inform business decisions. Efficient communication between IT and OT is facilitated by a common structure for data exchange.

2. Improve Industrial Security

Pharmaceutical companies can face cyberattacks and security threats, which can cause them to hesitate to adopt new technologies that could improve productivity. However, implementing these technologies while safeguarding against security risks can provide a competitive advantage.


Having a strong cybersecurity system and using technologies with top-notch built-in security features is crucial. COPA-DATA has received a certificate of conformity from TÜV SÜD, which verifies compliance with the industrial IT security standards outlined in the ISA/IEC 62443-4-1:2018 guidelines.

3. Simplify Operation Workflows

The pharmaceutical industry has strict quality requirements at every step of the process. The common batch process can be beneficial, but it also means that one error can lead to a ruined batch, wasted resources, and potentially serious consequences. Effective batch control is crucial to avoid these negative scenarios.


Pharmaceutical manufacturers must collect and manage process data to ensure the quality of exported pharmaceutical products. However, relying on paper documentation can lead to errors. Automating data collection with mobile devices can improve efficiency and reduce the likelihood of mistakes. This way, you can export medicines without committing errors.

4. Better Production

Efficiency in pharmaceutical manufacturing can also be improved by increasing machinery life and uptime. Equipment breakdowns and underperformance can cost companies money in terms of repairs, lost production time, and damaged batches of products. Investing in high-quality equipment and implementing an effective maintenance program can help export pharmaceutical products more efficiently.


Predictive maintenance programs can be more efficient than fixed or reactive schedules because they allow companies to forecast when maintenance is needed based on data collected from the sensors. This helps companies avoid unnecessary maintenance work and detect signs of future failures before they cause downtime or high repair costs.


Based on the information, it can be expected that the Indian pharmaceutical company will witness a considerable surge in export growth during FY23. The pharmaceutical company’s growth can be attributed to healthcare expansion and growing research and development. By doing all this, India is now a global lead player that export pharmaceutical products to all nations.


Mediwin Phayrmaceuticals has a unique opportunity to leverage its commitment to quality and innovation to emerge as a dominant player in the industry. Mediwin will capture a substantial portion of the expanding global market and has the potential to become one of the top Indian pharma export companies in the global market.

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