Pharmaceuticals & APIs
India is the pharmacy of the world for formulations but imports ~70% of APIs and KSMs from China, including for antibiotics, paracetamol and cardiovascular drugs. PLI for APIs and Bulk Drug Parks are the de-risking instruments; results visible only from FY26.
66.84Dependency index
$3.2 bnStrategic imports
2Critical products
▲ 1.312-month trend
Critical products
Where the dependency sits
| Product | CMDI | Source | Import | Verdict |
|---|---|---|---|---|
| Amoxicillin & Cephalosporin APIs | 75.5 | China | $0.30 bn | Build-now |
| Cardiovascular APIs (Atorvastatin, Rosuvastatin) | 71.25 | China | $0.35 bn | Build-now |
| Anti-Cancer APIs (Cytotoxic) | 70.35 | Italy | $0.26 bn | Build-now |
| Pyridine & 3-Picoline KSMs | 69.75 | China | $0.20 bn | Build-now |
| Steroids APIs | 69.62 | China | $0.19 bn | Build-now |
| Vitamin KSMs | 69.47 | China | $0.22 bn | Build-now |
| Anti-TB APIs (Isoniazid, Rifampicin) | 67.75 | China | $0.10 bn | Build-now |
| Paracetamol API | 67 | China | $0.10 bn | Build-now |
| Penicillin G API | 66.97 | China | $0.12 bn | Build-now |
| mRNA Lipid Nanoparticles | 66.59 | Canada | $0.09 bn | Build-now |
| Biologics Cell Culture Media | 66 | USA | $0.15 bn | Position-early |
| Plasma Derived Therapeutics | 65.04 | USA | $0.30 bn | Build-now |
| Heparin API | 64.87 | China | $0.09 bn | Build-now |
| Pharma-Grade Propellant Gases (HFA-134a) | 64.75 | USA | $0.08 bn | Position-early |
| Penicillin G API | 64.37 | China | $0.16 bn | Build-now |
| Formulation Excipients (Mannitol) | 63.54 | France | $0.07 bn | Build-now |
| Single-Use Bioreactor Bags | 63.5 | USA | $0.12 bn | Position-early |
| HPV Vaccine Bulk | 63.46 | Belgium | $0.14 bn | Build-now |
| Contrast Media Agents | 60.23 | Germany | $0.17 bn | Build-now |
Opportunity radar
Localisation opportunities
64Build-now
Paracetamol API
64Build-now
Anti-TB APIs (Isoniazid, Rifampicin)
64Build-now
Cardiovascular APIs (Atorvastatin, Rosuvastatin)
63Build-now
Penicillin G API
63Build-now
Vitamin KSMs
63Build-now
Steroids APIs
63Build-now
Anti-Cancer APIs (Cytotoxic)
63Build-now
Heparin API
63Build-now
Formulation Excipients (Mannitol)
Key Indian manufacturers
Koehler CreativeJubilant IngreviaMacleods PharmaceuticalsCipla LtdSun Pharmaceutical IndustriesAurobindo PharmaBiocon LtdLupin LtdMylanSRF LimitedMalladi Drugs & PharmaceuticalsTanvex BiotherapeuticsBiologica IndiaKpl InternationalHetero Drugs
PLI performance
- Bulk Drugs / APIs27%
Confidence: Reasoned estimate. Part of Techadyant Labs' Critical Manufacturing Dependencies (Edition I).