Summary:

According to Nuvama research, India is emerging as a key player in the global pharmaceutical Contract Development and Manufacturing Organisation (CDMO) industry, with increased output in f ine chemicals, agrochemicals, and specialty chemicals. Government incentives and lower operational costs are driving this growth, positioning India as a viable alternative to Europe, where energy and labor costs are rising.

Multinational corporations are progressively shifting production to India, reshaping the global market. While Europe remains a leader in manufacturing high-value APIs and finished dosage forms, it is losing ground in low-cost generic API production due to outsourcing. Europe's share of global chemical sales has dropped from 23% in 2008 to 13% in 2023, which is benefiting India's pharmaceutical sector.

Source: IBEF 

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