India striving to be global healthcare custodian: Torrent's Samir Mehta

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India striving to be global healthcare custodian: Torrent's Samir Mehta - Business Standard

Quick Summary:

The Indian pharmaceutical industry is aiming to more than double its size to USD 120-130 billion by 2030 as it looks to ride on the back of innovation to become the healthcare custodian of the world, Indian Pharmaceutical Alliance (IPA) president and Torrent Group chairman Samir Mehta said.

In the last 25 years, the Indian pharma industry has grown nearly 20 times - a market size of USD 58 billion from USD 3 billion in 1999-2000, contributing equally to domestic sales and exports today.

"The journey of Indian pharma is a testament to how key policy reforms coupled with entrepreneurial spirit have nurtured the sector's growth," Mehta wrote in an article on the occasion of IPA completing 25 years.