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As the third-largest drug producer in the world, India is already a major global pharmaceutical player. However, when it comes to the value of production, India ranks fourteenth. A deeper dive into the details reveals an important fact: India is the largest producer and supplier of generic medicines globally, delivering a 20 per cent share. India’s pharmaceutical sector has the highest number of USFDA-approved manufacturing plants outside the USA, 3,000 pharmaceutical companies, a network of 10,500 manufacturing facilities and a rich talent pool. So, why does it lag so significantly in deriving value from its assets? Is there an opportunity for the Indian pharmaceutical industry to evolve in a way that moves India up on the value scale by increasing innovation – and what will it take? Let's find out.

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