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India continues its rise to global prominence across key sectors, from pharmaceuticals to space exploration. The year 2024 marks a transformative year for the country, with major breakthroughs and milestones in various industries.
India has cemented its leadership position on the global stage, driven by strategic reforms, breakthrough innovations, and transformative policies in pharmaceuticals, biotechnology, defence, nuclear energy, space, and emerging technologies like AI, blockchain, and quantum computing.
Pharmaceuticals and Biotechnology Lead the Charge
India’s pharmaceutical sector reached new heights, with exports soaring from USD 15 billion to USD 28 billion in the decade ending FY24. The surge in exports was fueled by key initiatives such as the Production Linked Incentive (PLI) scheme and Bulk Drug Parks.
Biotechnology saw a 13-fold growth from USD 10 billion in 2014 to USD 130 billion in 2024, with ambitious targets set for further expansion. The sector is projected to hit USD 300 billion by 2030. “Breakthroughs in 2024 include
India’s first indigenous antibiotic, Nafithromycin, offering a revolutionary treatment against drug-resistant pneumonia, and NexCAR19, the nation’s first home-grown CAR-T cell therapy for cancer,” said an industry expert. The country also resumed Penicillin G production after 30 years, bolstering its pharmaceutical self-reliance.
On the global stage, India became a key member of the Biopharmaceutical Alliance alongside South Korea, the US, Japan, and the EU, tackling global drug supply challenges.
Defence and Nuclear Energy Achievements
India’s defence sector saw unprecedented growth in 2024, driven by reforms such as liberalized FDI and opening defence R&D to startups. Indigenous production reached a record Rs 1.27 lakh crore, with exports expanding 30-fold. “Key achievements include the successful flight test of the Agni-5 missile with MIRV technology under Mission Divyastra, the testing of the K-4 submarine-launched missile, and the deployment of the Phase-2 Ballistic Missile Defence (BMD) System,” said a defence official.
The nuclear energy sector doubled its capacity from 4,780 MW in 2014 to 8,180 MW in 2024. With plans to triple its capacity to 22,480 MW by 2031-32, India’s ambitions in nuclear energy are also reinforced by the Union Budget 2024-25, which highlighted the establishment of Bharat Small Reactors and collaborations on Small Modular Reactors (SMRs).
Space Sector Milestones and Achievements
India’s space industry achieved historic milestones in 2024, setting the stage for a future space economy worth USD 44 billion by 2033. Major achievements include the approval of the Venus Orbiter Mission (VOM) and Chandrayaan-4, as well as the announcement of India’s first batch of Gaganyaan astronauts. The private sector also made significant strides, with breakthroughs from Skyroot Aerospace and Agnikul Cosmos.
India laid the foundation for its second spaceport in Tamil Nadu and marked the first National Space Day in celebration of the Chandrayaan-3 lunar landing. The Aditya-L1 solar mission, providing key space weather predictions, also contributed to the country’s space achievements.
Revolutionizing Infrastructure and Emerging Technologies
Under Prime Minister Narendra Modi’s supervision, the PRAGATI platform has expedited over 340 projects worth USD 205 billion, significantly reducing delays. The completion of India’s first Hyperloop test track at IIT Madras and the piloting of GNSS-enabled distance-based electronic tolling in 2024 highlight India’s commitment to futuristic infrastructure. In the realm of emerging technologies, India reinforced its global leadership.
The National Quantum Mission advanced quantum communication, while BharatGen, the world’s first government-funded multimodal AI project, focused on Indian languages. Blockchain innovation was propelled by Vishvasya, a national blockchain stack for secure digital platforms.
With inputs from ANI
