- The year 2024 marked a pivotal year for India, showcasing its dominance in pharmaceuticals, biotechnology, defence, nuclear energy, space, infrastructure, and emerging technologies like quantum computing, AI, and blockchain.
- Transformative policies and innovations have propelled India into a leadership position globally, underscoring its commitment to sustainable and inclusive growth.
- India’s pharmaceutical exports soared from over USD 15 billion to USD 28 billion in the decade ending FY24, powered by initiatives like the Production Linked Incentive (PLI) and Bulk Drug Parks.
- Biotechnology experienced a 13-fold expansion from USD 10 billion in 2014 to USD 130 billion in 2024, with an ambitious target of 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.
- Resuming Penicillin G production after 30 years bolstered India’s pharmaceutical self-reliance. Globally, India joined the Biopharmaceutical Alliance alongside South Korea, the US, Japan, and the EU to address drug supply challenges.
- Transformative reforms, including Liberalized FDI, Positive Indigenization Lists, and the opening of defence R&D to startups, drove indigenous production to a record Rs1.27 lakh crore in 2024, 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.
- Additionally, the long-range LRLACM missile showcased India’s strategic precision capabilities.
- India’s nuclear power capacity doubled from 4,780 MW in 2014 to 8,180 MW in 2024, with plans to triple it to 22,480 MW by 2031-32.
- The Union Budget 2024-25 also highlighted the establishment of Bharat Small Reactors and collaborations on Small Modular Reactors (SMRs), reinforcing India’s nuclear ambitions.
- India’s space sector achieved unprecedented milestones in 2024, driven by a vision to grow the space economy to USD 44 billion by 2033.
- Key achievements include approvals for the Venus Orbiter Mission (VOM) and Chandrayaan-4, the announcement of the first batch of Gaganyaan astronauts, and private sector breakthroughs such as Skyroot Aerospace and Agnikul Cosmos innovations.
- India also laid the foundation for its second spaceport in Tamil Nadu and celebrated the first National Space Day, commemorating the historic Chandrayaan-3 lunar landing. The solar mission Aditya-L1 provided significant findings, enhancing space weather prediction capabilities.
- Since 2014, the PRAGATI platform under the supervision of prime minister Narendra Modi has expedited over 340 projects worth USD 205 billion, significantly reducing delays.
- In 2024, India completed its first Hyperloop test track at IIT Madras and piloted GNSS-enabled distance-based electronic tolling. These advancements underscore India’s commitment to futuristic and sustainable infrastructure.
- India’s strides in emerging technologies reinforced its global leadership in 2024. 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 showcased with Vishvasya, a national blockchain stack for secure digital platforms.
India emerges as a global leader across key sectors in 2024
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