India Aims to Reduce Dependence on China for Pharma Market

NEW DELHI--March 20, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--India's Pharmaceutical & Biotech Industry, which supplies nearly half of the world's vaccines, is the third-largest producer by volume and 14th largest by value globally. It is projected to reach US$130 billion in value by 2030. However, it depends heavily on Chinese imports for active pharmaceutical ingredients (APIs) and other basic chemicals. The API is the part of the drug responsible for producing the intended medicinal effect.