What’s Going on in the Pharmaceutical Industry of India?

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The Indian pharmaceutical industry is ranked among the top 3 industries in terms of profitability over the last ten years.  The industry continues to grow rapidly despite the global recession. The pharma industry continues to attract great interest from foreign investors.

The Indian government has taken many steps to give a fillip to the pharma industry. Since the 1990s, pharma has  been getting major government attention, especially in the area of research and development (R&D). To boost R&D in the country, government gives tax concessions to the pharma companies who invest on R&D. Several financial schemes and measures have been announced by the government to augment the growth of the pharma industry. As a result, Indian pharma industry is making a mark in the global pharma arena. It is estimated that by 2020, India will be amnon the top 3 pharma markets in the world. You may get latest pharma industry news of india via news.mynahcare.com/industry

What is the reason the behind success of the Indian pharma industry? Low production cost, tax incentives, skilled manpower and technical and managerial competence are turning India into a pharma superpower. Apart from creating job opportunities, the Indian pharma industry has ensured availability of low cost drugs across the globe. Unlike the American and European pharma companies, Indian companies are the main source of generic and affordable medicines for the world.The US imports 40% of its generic drugs from India.

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