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India's pharmaceutical exports are projected to exceed $30 billion this year, with the domestic market expected to double to $130 billion by 2030. This growth is being bolstered by a new Centre-state partnership between the Department of Biotechnology and the Uttar Pradesh government, aimed at accelerating innovation, entrepreneurship, and investment across the pharma, biotech, and MedTech sectors. The collaboration seeks to enhance India's position as a global hub for biopharma and MedTech solutions, leveraging its rapidly expanding biotech ecosystem and vaccine manufacturing capabilities.

In a nutshell

This initiative signals a strong governmental commitment to fostering a robust biopharmaceutical and medical technology ecosystem in India. It presents significant opportunities for global investors and industry players looking to leverage India's growing market and manufacturing capabilities, despite potential external trade pressures.

Source: The Tribune