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IMDR’s Journal of Management Development & Research 2023-24

innovative scientific manpower. There are lots of national and privately owned pharma laboratories. The major
advantage is that there exists a strong IPR administration that certainly follows WTO and WIPO rules and

regulations.

Role of pharmaceutical industry in India GDP data

• India's largest industry globally is the pharmaceutical industry.
• In terms of sales volume growth, it conquers 4th place globally.

• This business constitutes up to worth $ 6 billion as per estimated value.
• This business growth rate comprises of 13% annually.

• There is a need for majority of medicines in the domestic market which is satisfied by these businesses

almost by 70%.
• Around major chunk (20% to 24%) in the global generic medicines are produced by the

pharmaceutical industry in India.

• The pharmaceutical business of India is one of the major producers of dynamic pharmaceutical
ingredients (APIs) internationally.

• Our Indian pharmaceutical business has the calibre as well as the technology necessary to
manufacture multifaceted medicines.

• The total pharmaceutical products exported by our country are up to 40%.
• Nearly 55% of the entire exports are individual preparations and the other 45% are wholesale

medications.

• The pharmaceutical business of India includes large scale players, small scale players, medium scale
players and numbering almost 300 diverse corporations.

• In domestic sector there are numerous other small units operating.

Benefits

Capable Labor force: India has a group of employees with great technical and managerial competency as

well as capable manpower. Workforce is educated and the common language practiced here is usually English.

Economical Chemical Mixture: Its development track record, particularly in better-quality and cost-effective

chemical synthesis for various drug molecules, is brilliant.

Legal and financial framework: India is a 53-year-old democracy, therefore has a strong legal background

and solid financial markets. Established international industrial and business community is already present in

India.