Why Pharmaceutical Industry is Highly Successful in India?

Pharmaceutical Industry in India? – There is no doubt that the pharmaceutical sector is very beneficial to work. Present reports reveal that there are approximate 5 lakhs individuals are involved in the pharmaceutical business in India. According to a rough calculation there are about 15,000 pharmaceutical firms working in India. From all of them there is about 3k pharmaceutical organizations are capacious. As compared to western markets in the Indian market medicines has low cost.

Now the question arises that what are the factors for high development in pharma industry? This is all because of PCD model introduces in the Indian pharma industry, it is very important to know – How PCD pharma companies make available drugs at such a low cost without compromising the quality?

There are some reasons behind the success of Indian Pharmaceutical Industry:

Generic Drugs: Pharma companies are expert in manufacturing generic drug. Those drugs which are same as brand drugs and quality but price of drugs is very low are known as generic drugs, In Production of generic drugs India is on 3^rd position.

Support by the government: There is very good support offers by the Indian government also proves by encouraging pharmaceutical companies in India. Government also extends the FDI or Foreign Direct Investment about 70 percent is allowed in this pharma sector. Therefore, it became very easier for the pharma company owners and those who are planning to invest in pharma business through a foreign source of funding. Along with it by Patent Act of 1970 which is very flexible so that anyone can grow their pharma business without much difficulty. This encourages the pharmaceutical firms to grow their business without hurdles.

Must Read: What is the Scope of PCD Pharma Franchise Business?

Strong IT backup: IT sector of India is playing an important role in providing promotional support for the pharma franchise companies in India. The strong IT backup is main factor In encouraging the Pcd pharma companies to grow worldwide. So, IT sector is one of them   major reasons behind the success of the pharmaceutical industry in India.

Globalization and Export:  In India there is very easy to get low price with high quality manpower in India, the smaller scale pharmaceutical companies are producing drugs at lower prices as well as high quality which leads to the export of manufacturer  drugs to the United States . So, this is one of the reasons Indian Pharmaceutical industry successes.

Conclusion: India pharmaceutical industry is getting success very rapidly because of many factors associated with it like good Government policies, Strong support of IT sectors and easy availability of manpower and quality drugs, so it is very beneficial to invest in Indian Pharmaceutical industry.