India Pharma 2047: Becoming an innovation powerhouse 

An innovation-led pharma future would mean climbing the value chain in quality, advanced therapies and technology for equitable patient outcomes.

India has a leading position globally in pharmaceuticals, based on large-scale manufacturing, affordable medicines, vaccines, scientific talent and entrepreneurship. However, the next phase of growth requires a shift: from volume-led manufacturing to value-led innovation. India ranks 11^th by value (versus third by volume), which puts into focus the opportunity to capture greater value through innovation, intellectual property, quality standards and differentiated therapies. The Indian pharmaceutical market is projected to grow from US$60 billion in FY26 to US$130 billion by 2030^[1], creating a strong platform for this transformation. The path ahead is to transform India from the "Pharmacy of the World" into an innovation hub for the world, aligned with the vision of Viksit Bharat 2047.

Precision medicine, genomics in healthcare, biologics and biosimilars, advanced therapeutics, AI in pharma and robust digital health infrastructure are shaping the future, highlights the ‘Vision 2047 India — Building the innovation powerhouse of tomorrow’ report, published by EY-Parthenon and CII. Competitiveness is expected to increasingly depend on the ability to generate original knowledge, translate scientific discoveries into therapies, create intellectual property and strengthen a world-class pharmaceutical innovation ecosystem. As new modalities such as Cell and Gene Therapy and AI-driven drug development gain momentum, India can emerge as a global center for biopharmaceutical innovation.

India's transformation into an innovation hub for the world rests on four interconnected pillars on which rests the roadmap for 2047:

• Defend: Trust and resilient manufacturing leadership
• Differentiate: Innovation and advanced therapeutics
• Leapfrog: Intelligent pharma powered by AI and data
• Democratize: Equitable access and patient outcomes

Emerging hubs of innovation

As global pharmaceutical innovation becomes less concentrated and new hubs come up in different geographies, there is an opportunity for India to emerge as a leading pharmaceutical innovation ecosystem. Indian companies are increasingly developing capabilities across precision medicine, biopharmaceutical innovation, peptides, oligonucleotides, antibody-drug conjugates, and cell and gene therapy. The country is also strengthening Genomics in Healthcare through initiatives such as Genome India, to create population-scale genomic datasets. As multinational companies seek novel assets and diversified innovation partners, India has the potential to become a global source of advanced therapeutics as well.

In particular, India's Contract Research, Development and Manufacturing Organizations (CRDMOs), and Contract Development and Manufacturing Organizations (CDMOs) are evolving beyond manufacturing into integrated discovery, development and commercialization services. China+1 diversification, cost competitiveness, scientific talent and expansion into biologics, ADCs and other advanced modalities are the key factors behind their growth. These strategic steps can strengthen both pharma manufacturing leadership and biopharmaceutical innovation.

AI and data-powered intelligent pharma

Crucial to success in innovation and patient outcomes is intelligent pharma: in connecting science, manufacturing and patient care through data-driven ecosystems. AI in pharma is accelerating discovery, clinical development, manufacturing, regulatory processes and safety monitoring.

Emerging capabilities such as AI-enabled drug discovery, digital twins, automated workflows and real-world evidence (RWE) can help make development timelines shorter, improve quality and enable faster decision-making. At the same time, the digital health infrastructure in India, strengthened by the scale, reach and interoperability under Ayushman Bharat Digital Mission (ABDM) can generate trusted datasets that fuel innovation across the pharmaceutical value chain. India is also emerging as a hub for pharma GCCs, which are increasingly supporting AI-led innovation and global R&D programs.

Putting patient outcomes at the center

Scientific advances can achieve their full value only when they reach patients. India's vision therefore places equitable healthcare access and patient outcomes at the heart of innovation.

Expanding access to biologics and biosimilars, strengthening healthcare financing, investing in digital health infrastructure, and leveraging real-world evidence can help improve diagnosis, treatment adherence and health outcomes. The report highlights creation of a more inclusive model of pharmaceutical innovation to support affordability and accessibility.

By 2047, success should be measured not only in terms of market size or export, but through India's ability to combine trusted manufacturing, original innovation, AI-enabled competitiveness and equitable patient outcomes at a global scale.

India pharma 2047 execution roadmap

2026-2030: Build the foundations - Quality systems, specialist talent, translational research infrastructure, digital health infrastructure, responsible AI governance, resilient manufacturing capabilities.

2030-2035: Scale innovation and competitive advantage - Advanced therapeutics, platform-based R&D, precision medicine, AI-enabled drug discovery, CRDMO capabilities, Intelligent Pharma operations, stronger global partnerships and commercialization pathways.

2035-2047: Lead as a global innovation powerhouse – trusted source of high-quality medicines, original intellectual property, advanced therapeutics, digital-health innovation, equitable patient outcomes, differentiated science, resilient supply chains, high-value exports and measurable healthcare impact.

To realize the vision of India Pharma 2047 and Viksit Bharat 2047, stronger collaboration is needed across industry, academia, government, healthcare institutions and investors. By combining trusted manufacturing with pharmaceutical innovation, intelligent pharma capabilities and a focus on equitable healthcare access, India can evolve into an innovation hub for the world, creating higher economic value while delivering better patient outcomes.