Despite ongoing global trade and energy uncertainties, India's pharmaceutical and medical technology sectors are set to experience strong growth driven by manufacturing incentives, regulatory reforms and improved access to foreign markets, although supply-chain vulnerabilities, reliance on imported APIs and U.S. trade investigations pose risks of production disruptions, export delays and market volatility. In recent months, the United States has threatened to impose 100% tariffs on imported pharmaceuticals to push U.S. drugmakers to expand domestic manufacturing, while disruptions in the Strait of Hormuz have caused propane and polypropylene shortages, forcing several Indian pharmaceutical and medical device plants to partially suspend operations and slow production of critical drugs and supplies. These developments are creating challenges for India's pharmaceutical market, which was valued at around $55 billion in 2025 and is expected to grow to $120 billion-$130 billion by 2030, with domestic consumption reaching $23.5 billion in 2023-24.