evidence: The Foreign Direct Investment (FDI) equity inflow into the pharmaceutical industry in India has jumped by 45.4% in the fiscal year ended March 2023, compared to inflow in the previous fiscal year. FDI crossed $2.05 billion compared to $1.41 billion of the previous fiscal year. This follows on the back of a decline of 5% in foreign equity infusion for the fiscal year 2021-22. Data from the Commerce and Industry Ministry shows that from April 2000 to March 2023, cumulative FDI inflows were $21.46 billion. This placed the pharmaceutical sector in India in the eighth place among sectors that attract the largest FDI equity inflows. Inflows were led by the services sector with $631.98 billion.