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Pharmaceutical Industry- Role & Significance in India

The Role and significance of Pharmaceuticals Industry in India's GDP is immense. The contribution of this sector towards building GDP of the country is phenomenal. During the last decade, this industry has boomed and touched new heights. Pharmaceutical Industry has boomed in India due to the various reasons like clinical research, research and development related to various vaccines, etc.Various multinational pharmaceutical corporations are outsourcing their research and development activities to India, giving this industry a rise like never before.

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Pharmaceutical Industry- Role & Significance in India

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  1. Introduction ●The Role and significance of http://www.tatvachintan.com/ in India's GDP is immense. The contribution of this sector towards building GDP of the country is phenomenal. During the last decade, this industry has boomed and touched new heights. ●Pharmaceutical Industry has boomed in India due to the various reasons like clinical research, research and development related to various vaccines, etc. ●Various multinational pharmaceutical corporations are outsourcing their research and development activities to India, giving this industry a rise like never before.

  2. History of Pharmaceutical Industry ●One of the largest pharmaceutical industry in the world. Ranks 3rd worldwide in volume. ●An estimated worth of pharmaceutical industry is around US$ 6 billion ●A major chunk of domestic demand i.e. around 70% is supplied by the local http://www.tatvachintan.com/ ●Around 20%-25% of the global generic drugs is produced by Indian Pharmaceutical Industry.

  3. Future of Pharmaceutical Industry ●If it grows as per current growth rate, Indian Pharmaceutical Industry is expected to become a US$ 20 billion industry by the end of 2015. ●It is also expected that the Indian Pharmaceutical sector is going to be amongst the top 10 Pharma based markets in the next 10 years. ●Indian Pharma Industry would contribute to a total sale volume of US$ 43 billion in the coming decade. ●FDI has been facilitated in this sector due to the engagement of various multinational pharma companies.

  4. Benefits of Pharmaceutical Industry ●The cost of labor, inventory is much lower in India as compared to any other part of the world. ●The multinational pharma companies can actually save upto 30%- 50% by investing in research and development in India. ●A rough estimate says that the cost of hiring a research chemist in India is five times cheaper than his American counterpart. ●Performing a clinical trial in India is one tenth of the cost incurred in US.

  5. Who we are ●We combine economic success, social responsibility and environmental protection. Through science and innovation, we support our customers in nearly every industry in meeting the current and future needs of society. ●TATVA CHINTAN aims to strengthen its position as one of the world’s leading specialty chemical company. ●TATVA CHINTAN’s products contribute to conserving resources and improving quality of life. Sustainability and innovation will be significant driving forces.

  6. Tatvachintan Pvt Ltd 502/17, G.I.D.C, Ankleshwar 393 002, India +91-2646-253593 / 238991 shekhar@tatvachintan.com

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