The Pharmaceutical industry in India is significantly contributing to healthcare globally. The Department of Pharmaceuticals has estimated the current size of the industry is about USD 41 Bn including drugs and medical devices. The exports stood at around USD 19.13 Bn in FY 2018-19 recording a growth of 10.72% over the previous fiscal.
India continues to play a substantial role in manufacturing various important, high‐quality and cost-efficient medicines for Indian and global markets. The Pharmaceutical industry in India has unique characteristics with a domination of branded generics, local brands and low-price levels with intense competition.