Pharmaceutical industry in India
Rank Company Market Capitalization June 2020 ( INR crores )
1 Sun Pharmaceutical 116,415
2 Dr. Reddy 's Laboratories 66,596
3 Divi 's Laboratories 61,282
4 Cipla 51,645
5 Aurobindo Pharma 46,043
6 Torrent Pharmaceuticals 42,753
7 Lupin Ltd 41,747
8 Zydus Cadila Healthcare 37,422
9 Abbott India 33,915
10 Alkem Laboratories 27,807
Largest companies -- Publicly traded pharmaceuticals
The pharmaceutical industry in India was valued at US$33 billion in 2017 and generic drugs account for 20 per cent of global exports in terms of volume, making the country the largest provider of generic medicines globally. According to the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, domestic pharmaceutical market turnover reached Rs 129,015 crore (US$18.12 billion) in 2018, growing 9.4 per cent year-on-year and exports revenue was US$17.28 billion in FY18 and US$19.14 billion in FY19. Hyderabad, Mumbai, Bangalore, Ahmedabad and Sikkim are the major pharmaceutical hubs of India. The Government started to encourage the growth of drug manufacturing by Indian companies in the early 1960s, and with the Patents Act in 1970. Indian companies carved a niche in both the Indian and world markets with their expertise in reverse-engineering new processes for manufacturing drugs at low costs which became the advantage for industry. India's biopharmaceutical industry clocked a 17 percent growth with revenues of Rs.137 billion ($3 billion) in the 2009-10 financial year over the previous fiscal. Bio-pharma was the biggest contributor generating 60 percent of the industry's growth at Rs.8,829 crore, followed by bio-services at Rs.2,639 crore and bio-agri at Rs.1,936 crore.