TARGET: A $120 BILLION INDUSTRY
In a virtual international conference last year, Prime Minister Narendra Modi hailed India’s pharmaceutical industry as an asset not just for India but the entire world. From manufacturing generics to highly complex formulations to biosimilars and specialty medicines, the nation’s pharmaceutical industry has come a long way. Today, it is regarded as the ‘Pharmacy of the World.’ In terms of volume, it is ranked the third-largest globally, accounting for 60 per cent of global vaccine production. India is the largest provider of generic drugs and hosts the highest number of USFD-approved A plants outside the US.
Since the outbreak of Covid-19, the Indian pharmaceutical industry has
