Since the days of modest aspiration, Indian firms and corporations have looked more and more to overseas markets for expansion and chance. What will the next few years bring for India’s growth story? What industries will it be able to compete with and surpass global rivals in? Mint thinks long-term.
Global Pharmacy
The Indian pharmaceutical business has expanded rapidly over the past 20 years, largely due to its success in the global generics market, to the point where it has earned the title of “world pharmacy.” It produces 20% of the generic market’s total global demand, placing third globally in terms of production volume.
With a substantial network of 3,000 pharmaceutical businesses and around with approximately 10,500 production facilities dispersed over the whole nation, India provides a distinctive competitive advantage in the global pharmaceutical sector. In the period from January to June of this year, the value of mergers and acquisitions (M&A) in the pharmaceutical and healthcare sectors reached a record $4.32 billion, demonstrating the significant investments made by private equity (PE) companies in the industry. Both the active pharmaceutical ingredients (APIs) and medical devices sectors saw significant PE deals of over $200 million.
Steely nerves
The world’s fourth-biggest producer of crude steel today is India, which rose from the tenth greatest producer in 1995 thanks to a significant expansion in steel production in recent decades. Steel consumption is projected to rise significantly as the economy matures. One of the largest iron reserves is in India. ore for premium steel and Indian steel producers like Tata Steel and JSW intend to significantly boost production in order to satisfy the anticipated rise in demand both domestically and internationally.
Era of space
The government is promoting private investments in space research, so Indian enterprises are free to begin developing solutions across all space-related domains. Even though the Indian satellite sector currently only accounts for 2% of the $360 billion worldwide market, it has a lot of potentials.
While the current ISRO is slated to be reformed, with its commercial activities hived off into a government-owned New Space India, a newly established Indian National Space Promotion and Authorization Centre (IN-Space) seeks to work towards recruiting private operators. Ltd, leaving the company to concentrate on scientific missions, exploration, and research and development.
Three companies have expressed interest in the competition for satellites in Indian space: Jio InfoComm (Jio), Bharti Airtel, and Elon Musk‘s Starlink. The US has benefited from allowing private companies to run space missions. Once there are private investments in Indian space, businesses can focus on developing more affordable launch vehicles and fresh designs for diverse space programs.
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