An Overview of the Indian Pharmaceutical Sector
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چکیده
Over the past 40 years or so the Indian pharmaceutical sector witnessed rapid growth and transformation. From a mere volume of just Rs. 10 core in 1947, the industry registered a sales turnover of about US $ 5.5 billion in 2004 with an annual growth rate of about 17%. The flexible provisions of the Patent Act of 1970 and other supportive policies of the Government of India played an instrumental role in the growth and development of this industry. Given the importance of public policies in influencing the present structure of the industry this chapter, reviews in brief the important policy changes that have taken place in this sector and also examines the current changes in the structure of the industry and the changing behavior of firms in responding to policy changes.
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