In recent years, leadership quality has played a vital role for professional success of corporate leaders and their organization. However, it is affected by various dominant variables. This information paves the way for the present study. This research paper presents a comprehensive analysis of demographic characteristics, perceptions of leadership styles, innovative leadership practices and employee engagement within pharmaceutical industries located in India's National Capital Region (NCR). Considering their professional tenure and strategic decision-making ability, 383 participants were examined for this work. This research paper analyses different types of innovative leadership styles and highlights their shortcomings and strengths. In addition, the study also assesses the effects of innovative leadership practices. The study finds that while moderate positivity is appropriate, it also has many inconsistencies, especially in relation to the Indian pharmaceutical sector. The work shows moderate positivity in perceptions related to roles, recognition, and decision-making, with average ratings around 3.20. Significant variations in how valued and involved different groups feel indicate discrepancies across departments, emphasizing the need for initiatives that enhance inclusivity and uniform recognition to boost engagement and satisfaction.