Setting the Future Leaders...
The Indian pharmaceuticals market increased at a Compound Annual Growth Rate (CAGR) of 17.46 % in 2015 from US$ 6 billion in 2005 and is expected to expand at a CAGR of 15.92 % to US$ 55 billion by 2020. The drug industry has various things going in its favour such as low manufacturing cost connected with strong policy initiations from the Indian government. The government of India brought out “Pharma Vision 2020” with an intention to make India one of the top 5 drug innovation centres by 2020. Also the government of India aims to endure the drug industry by foremost infrastructure, scientific workforce for drug research and development, venture investment for pharmaceutical research and several tax benefits. To make better or more attractive and move gently drug business in India , the clearance timelines for the new manufacturing facilities has been significantly cut down. The government has also permitted foreign direct investments (FDI) under the automatic path in drug s...