23 c)
Pharmaceutical Value Chain db Sources for in-depth analysis and further reading https://www.ibef.org/industry/pharmaceutical-india.aspx https://www.makeinindia.com/sector/pharmaceuticals
Automotive a) Overview In terms of market size, the Indian passenger car market was valued at US 32.70 billion in 2021, and it is expected to reach a value of US 54.84 billion by 2027 while
registering a CAGR of over 9% between 2022-27. India is currently shifting focus to electric cars to reduce emissions. In terms of electric vehicles
(EVs), in Q FY, sales reached anew high of 5,592 units. Overall, in 2021, 329,190
EVs were sold in India, indicating a 168% YoY growth over last year's sales of 122,607 units. A report by India Energy Storage Alliance estimated that the EV market in India is likely to increase at a CAGR of 36% until 2026. In addition, a projection for the EV battery market
is forecast to expand at a CAGR of 30% during the same period