Business

Indian Pharma Sector Grows at 8% CAGR with 9% Surge in Exports in 2024: Report

Published

1 year ago

February 28, 2025

According to a report from McKinsey & Company, the Indian pharmaceutical sector has expanded at a compound annual growth rate (CAGR) of 8% and witnessed a notable 9% rise in export rates in 2024. This report highlights the rapid growth in production capabilities, particularly in Active Pharmaceutical Ingredients (APIs) and biotechnology, positioning India’s growth at double the global average.

The country has established itself as the largest supplier of generic medicines worldwide, with pharma exports growing nearly twice the global average, the report reveals. Currently, India fulfills 20% of the global demand for pharmaceuticals, providing over 40% of generic medications to the United States and 25% to the United Kingdom. Additionally, India supplies over 60% of the world’s vaccines and 70% of the global antiretroviral drugs used in HIV treatment.

Furthermore, the report indicates that India is making strides in emerging treatment modalities, including mRNA technology, cell and gene therapies, and antibody therapies, which are experiencing growth rates of 13-14% CAGR, surpassing conventional drug growth.

The Indian pharma sector has also seen an increase in the number of US Food and Drug Administration (USFDA) registered generic manufacturing sites. As of 2024, India boasts a network of 752 FDA-approved establishments, 2,050 WHO GMP-certified facilities, and 286 EDQM-approved plants. Compliance outcomes have significantly improved over recent years, with instances of ‘official action indicated’ (OAI) following USFDA inspections declining by 50% between 2013-14 and 2023-24.

Additionally, there has been a rise in green manufacturing initiatives, with 10 of India’s top 20 pharmaceutical companies committing to a reduction of over 30% in emissions by 2030.

However, despite these advancements, the industry faces significant challenges as it approaches a critical juncture. Disruptions including digital transformation, smart automation, and the advent of new treatment modalities could fundamentally alter pharmaceutical operations. Geopolitical changes, nearshoring trends, and increasing demands for sustainability could also pose risks, according to the report.

“India’s pharmaceutical industry is robust today due to the foundations laid over the past decade,” stated Vishnukaant Pitty, Partner at McKinsey & Company. “With potential disruptions on the horizon, it is essential for the industry to adopt these strategic themes and transform its operating model to achieve a high-performance future,” he added.

Business

Chicken and Egg Prices Rise Shocked Non-Veg Lovers

Published

4 days ago

July 15, 2026

Namma Kudla

Business: Non-vegetarian food lovers are facing a big shock as chicken and egg prices have increased sharply over the past week.

The price of chicken has gone up significantly, making it expensive for many families. Fresh fish is also unavailable in coastal areas because fishing activities have been suspended.

The main reason for the price hike is the slow growth of chickens, which has reduced supply. At the same time, more chicken is being supplied to other states, resulting in lower availability in the local market.

Egg prices have also increased. An egg that cost Rs.7 to Rs.7.50 three days ago is now priced at ₹9.

Similarly, the price of chicken has risen from Rs.300 per kg to Rs.360 per kg.

Traders say prices may come down once the supply improves. Until then, the increase is expected to put an extra burden on consumers.

Business

India’s First LPG Efficiency Policy amid Iran War

Published

5 days ago

July 14, 2026

Namma Kudla

Business: As the Iran conflict continues to affect global energy markets, Pune Gas has urged the Central Government to introduce India’s first LPG Efficiency Policy.

The company submitted its proposal to the Ministry of Petroleum and Natural Gas, stressing the need for better and more efficient use of LPG across the country.

Global supply disruptions have pushed commercial LPG cylinder prices to around Rs.3,100 from nearly Rs.1,884 earlier this year.

The price rise has increased costs for restaurants, hotels, hospitals, food processing units, MSMEs and other industries that depend on LPG.

Pune Gas said India has maintained a stable LPG supply, but improving fuel efficiency is now equally important.

The proposal recommends promoting the use of 47.5-kg LOT cylinders wherever suitable to reduce wastage, improve safety and prevent pilferage.

It also seeks awareness campaigns, standard practices and policy support to encourage efficient LPG systems.

Pune Gas CEO Jesal Sampat said India should focus not only on increasing LPG supply but also on using the available fuel more efficiently.

The company also showcased its indigenous LPG management system, LPGenius, to improve safety, efficiency and cost savings.

Pune Gas has offered to support the government and oil marketing companies with field data, pilot projects and implementation assistance.

Business

US-Iran Conflict Pushes Global Crude Oil Prices Up by Over 4%

Published

6 days ago

July 13, 2026

Namma Kudla

London: Global crude oil prices surged by more than 4% after the United States and Iran intensified missile and air strikes against each other.

The rise in oil prices is mainly due to growing concerns over the security of the Strait of Hormuz. It is one of the world’s most important routes for global oil shipments.

During Monday morning trading, Brent crude oil rose by 4.28% to $79.26 per barrel. West Texas Intermediate (WTI) crude oil increased by 4.37% to $74.53 per barrel.

Iran expanded its military attacks over the weekend to include Qatar and the United Arab Emirates (UAE). In response, the United States launched another round of air strikes on Iranian military bases.

Iran also announced the closure of the Strait of Hormuz after an attack on a commercial vessel that it claimed had violated regulations. According to ship-tracking data from Kpler, only six ships passed through the strait on Sunday. This is the lowest number recorded in the past five weeks.

Last month, the United States and Iran had reached a temporary agreement to keep the Strait of Hormuz open. However, the latest attacks have ended those efforts and increased tensions in the region.

Iran’s Foreign Ministry strongly condemned the US strikes. It said the attacks were a clear violation of international law and the United Nations Charter.

Iran also warned that any country allowing the United States to use its land or military bases for operations against Iran would be treated as a hostile nation. It said such countries could face military action.