India: The unsung hero of global health security in a world of rising costs
Trump-Modi Meet
The mega MIGA, MAGA plans of India's Modi and US' Trump
Trump says India has more tariffs than others
Trump's 'golden rule' for imposing reciprocal tariffs
Escalating costs of medicines are not just a financial burden. They are also exacerbating inequities in healthcare access, particularly in developing countries, where life-saving treatments remain out of reach for many.
With global pharma expenditures on track to rise at CAGR of 5-8%, reaching $2.3 tn by 2028, the financial strain on health systems will only intensify. In 2023, global spending on biopharmaceuticals reached $1.4 tn. WHO estimates that one-third of the global population lacks access to essential medicines, leading to millions of preventable deaths each year. Without the vital contributions of India's generics and biosimilars, this crisis would be far more severe. By ensuring availability, affordability and accessibility of critical medicines, India plays an indispensable role in securing health for people worldwide.
The global generic drugs market was valued at about $420 bn in 2023. It's expected to exceed $600 bn by 2030. As supplier of 20% of the world's generic medicines, India is at the forefront of delivering affordable healthcare solutions. Its contributions have been transformative in both developing and developed nations.
India provides 40% of the US' generic drug supply and meets 25% of Britain's needs. In the US, where healthcare costs are among the highest globally, generics and biosimilars have expanded access to
