The Indian Pharmaceutical industry is one of the fastest growing industries. India is the largest provider of generic drugs globally. Indian pharmaceutical sector industry supplies over 50 per cent of global demand for various vaccines, 40 per cent of generic demand in the US and 25 per cent of all medicine in UK. The Indian pharmaceuticals market stood at Rs 1.39 lakh crore (US$ 19.89 billion) for the year ending November 2019 with Lupin, Mankind Pharma, Intas Pharmaceuticals and Alkem Laboratories leading the growth. India accounts for 20 per cent of global exports in generics. India’s pharmaceutical exports stood at US$ 10.79 billion in FY20 (up to November 2019). The exports are expected to reach US$ 22 billion by 2020. Indian pharmaceutical sector is expected to grow at a CAGR of 22.4 per cent in the near future and medical device market expected to grow US$ 55 billion by 2020. India is the second largest contributor of global biotech and pharmaceutical workforce. Pharmaceutical exports include bulk drugs, intermediates, drug formulations, biologicals, Ayush & herbal products and surgicals. The Union Cabinet has given its nod for the amendment of the existing Foreign Direct Investment (FDI) policy in the pharmaceutical sector in order to allow FDI up to 100 per cent under the automatic route for manufacturing of medical devices subject to certain conditions. The ‘Pharma Vision 2020’ by the government’s Department of Pharmaceuticals aims to make India a major hub for end-to-end drug discovery. The sector has received cumulative FDI worth US$ 15.93 billion between April 2000 and December 2018. Under Budget 2019-20, allocation to the Ministry of Health and Family Welfare increased by 13.1 per cent to Rs 61,398 crore (US$ 8.98 billion). Indian pharmaceutical sector is expected to grow at a CAGR of 15 per cent in the near future and medical device market expected to grow $50 billion by 2025.