Prime Minister Narendra Modi stated that India’s pharmaceutical sector could expand its market value by 150% to reach ₹10 lakh crore by fostering collaborations with academic institutions. Speaking at a key industry event, he emphasized the importance of innovation and research-driven partnerships to drive sustainable growth in the sector.
PM Modi calls for stronger academia-pharma collaborations to boost Indian pharmaceutical sector’s value by 150% to ₹10 lakh crore through innovation and research.
Prime Minister Narendra Modi has underscored the transformative potential of the Indian pharmaceutical industry, suggesting that its market value could grow by 150% to ₹10 lakh crore through enhanced collaboration with academic institutions. He made these remarks on March 5, 2025, while addressing stakeholders in the pharma sector, highlighting innovation and research partnerships as critical drivers for the industry’s future.
Speaking at a prominent pharmaceutical conference held in New Delhi, PM Modi emphasized the vital role of academia-industry partnerships in propelling the sector’s growth trajectory. “The Indian pharmaceutical industry stands on the threshold of a major expansion. By deepening our collaboration with academia, we can unlock new avenues for research, development, and innovation, which will boost the sector’s value significantly,” he said.
The Prime Minister outlined the current growth prospects, noting that India’s pharmaceutical market is rapidly evolving amid global demand for affordable and quality medicines. He pointed out that the burgeoning biotech and pharmaceutical industries have the capacity to contribute substantially to the economy while addressing public health needs.
In his address, PM Modi highlighted several government initiatives aimed at facilitating the convergence of academic research and industrial application. These include enhanced funding for joint research projects, establishing innovation hubs, and promoting intellectual property generation within academic settings. He stated, “Our policies are increasingly geared towards nurturing innovation ecosystems where academia and industry can collaborate seamlessly.”
Industry experts welcomed the Prime Minister’s remarks, viewing them as a call to action for strengthening ties between universities and pharmaceutical companies. Dr. Anil Kumar, a leading pharma analyst, remarked, “This approach can accelerate drug discovery and manufacturing excellence, ultimately benefiting not only the economy but also global healthcare.”
The pharmaceutical sector plays a crucial role in India’s economy, contributing significantly to exports and employment. According to recent data, the sector was valued at approximately ₹4 lakh crore and has been growing steadily due to a combination of domestic demand, generic drug manufacturing, and increasing research outputs. PM Modi’s projection of reaching ₹10 lakh crore illustrates a strategic vision focusing on innovation-driven expansion.
The Prime Minister further addressed challenges such as the need for skilled researchers, enhanced infrastructure for pharmaceutical R&D, and regulatory reforms to foster a conducive environment for innovation. “We must invest in our human capital and modernize our laboratories and production facilities. The future of Indian pharma depends on cutting-edge science and technology,” he asserted.
Additionally, PM Modi highlighted the significance of startups and small and medium enterprises (SMEs) in the pharma ecosystem, encouraging them to leverage academic partnerships to develop new drug formulations and delivery systems. The integration of academic expertise is seen as a means to accelerate product development cycles and bring novel treatments to market faster.
The government’s proactive role in fostering collaborations is further supported by programs such as the National Biopharma Mission and the Atmanirbhar Bharat initiative, which aim to position India as a global pharmaceutical innovation hub. By bridging the gap between academia and industry, India hopes to reduce dependence on imports for active pharmaceutical ingredients and medicines.
In conclusion, Prime Minister Narendra Modi’s address highlighted a clear pathway for the Indian pharmaceutical sector’s expansion through strategic partnerships with academia. The envisioned 150% growth to a market valuation of ₹10 lakh crore underscores the potential of research-driven innovation and collaborative efforts to transform India’s pharma landscape, enhance its global competitiveness, and contribute significantly to the national economy.
