It has been seen that the Indian Pharmaceutical Industry has improved its infrastructure, creations that are based on technologies, and various other spheres of developments which has resulted in a huge amount of production in the Indian Pharmaceutical Industry. Even when the Indian Pharmaceutical industry was on its way to restructure itself , it still continued to flourish at a good rate in the World Pharmaceutical Industry and also getting itself fit with the new world of Pharmaceuticals.
The Indian Pharmaceutical Industry at present produces a huge amount of drug which includes all types of medicines needed for different streams. This was made successful because of the availability of very skilled technical and scientific manpower and also because of the development done in this field of industry.
It has been observed that the gross production of drugs in India has crossed an amount of 26, 280 million rupees. The growth rate that has been seen is more than a staggering 20 percent for formulated drugs and around 15 percent for bulk drugs.
If the export of drugs is to be seen then Indian Pharmaceutical industry has done a fair job in that field as well. A special Pharmaceutical cell has been developed which would only look after the pharmaceutical matters and another duty of the cell is to collect data which in the long run would help to increase the production level as well as improving strategies of import export in the future.
The cell also looks after the quality of the drugs and also the global needs so that companies can make that type of medicines and export them to the concerned countries.
There are some particular reasons why the production has touched new heights:
- Indian Pharmaceutical Industry has reached a point which not only fulfills the demand within the country but also a surplus is generated for export purpose.
- The low production cost has also helped the Indian Cause.
- A very low R&D cost has also proved helpful.
- Indian Pharmaceutical Industry has scientific power which is innovative in nature and has helped a lot.
- National Laboratories have also helped the cause by inventing various medicines.