How pharmaceutical industry impact the economy of India
The discovery, development, production and distribution of the medicated drugs throughout the world is the key feature of Pharmaceutical Industries. Indian pharmaceutical industries are also completely involved in the supply of medicated drugs and they are known to have some unique properties: 1. India is the largest suppliers of the generic medicines. 2. The local dealers dominate the market by having the capability of formulations development and investments at the early stage and 3. the cost price of the medications in India is very low compared to other competitors. These properties and the capabilities of pharmaceutical industries have imposed a very positive effect on the economy of India. Indian pharmaceutical sector supplies medicines up to 70 to 80 per cent of the retail market demand and more than 50% of global demand for various vaccines. The pharmaceutical industry h...