Compilation, curation, digitization and exploration of the phytochemical space of Indian medicinal plants can expedite ongoing efforts toward natural product and traditional knowledge based drug discovery. To this end, we present IMPPAT 2.0, an enhanced and expanded database, compiling manually curated information on 4010 Indian medicinal plants, 17967 phytochemicals, 1095 therapeutic uses and 1133 traditional Indian medicinal formulations. Notably, IMPPAT 2.0 compiles associations at the level of plant parts, and provides a FAIR compliant non-redundant in silico stereo-aware library of 17967 phytochemicals from Indian medicinal plants. The phytochemical library has been annotated with several useful properties to enable easier exploration of the chemical space. We also filtered a subset of 1335 drug-like phytochemicals of which majority have no similarity to existing approved drugs. Using cheminformatics, we have characterized the molecular complexity and molecular scaffold based structural diversity of the phytochemical space of Indian medicinal plants, and performed a comparative analysis with other chemical libraries. Altogether, IMPPAT is the largest phytochemical atlas of Indian medicinal plants which is accessible at: https://cb.imsc.res.in/imppat/.