Importance of the Indian Pharma Industry

Indian pharma industry has played a prominent role in decreasing the dependencies on other nations for medicines. The importance of this sector cannot be ignored, below are a few fields that have seen a positive turn due to the growth and development in the pharma sector in India.

Investor interest: There has been a high rise in the people who have invested in Indian pharma companies. The demand for the products of these companies are high not just in India but in the American and European markets as well. The principal reason for this is the quality of the products being supplied. India being a combination of skillful people, ideal production environment and lower production cost when compared to other countries has turned out to be a plus point for the global pharma industry. When there is so much concrete support to back up this emerging sector there is no doubt the investors would be attracted towards it and make it an even profitable market to explore.

Educational opportunities: With the rising growth of the Indian pharma industry arises, the need for people who can further enhance the existing pharma structure with their knowledge. There are a variety of courses that are being provided by educational institutes in India itself, earlier students aspiring to explore the avenues of medicinal research are and testing had to go overseas. But now there are many colleges across India offering courses and facilities that are no less than those provided by foreign nations. From Pharmacogenomics, Pharmacology to Pharmacologist the subjects and the depths to which the pharmaceutical studies are being promoted and accepted by students is vast and on the rise. The interest of Indians in this sector can be judged by the fact that around 2% of the pharma patenting happening in the US is that of Indians.

Strict regulations: The laws governing Indian pharma industry have become stricter insisting on high quality products. There are hundreds of pharma companies mushrooming in India but how many of them are adhering to the norms is a major concern. There are continuous efforts being made to make the pharma profession a service oriented sector. As a result of this the pharmaceutical companies are undergoing certifications by reputed bodies like FDA, ISO etc to build the trust and upgrade themselves in every aspect right from R&D, development, production, packaging to the dispatch stage.

The Indian pharma industry currently has an answer to every problem from cardiology, diabetes even nephrology. The success of this industry depends on many pillars which include the investors, pharma professionals, regulatory bodies and infrastructure. India has become one of the key nations for supplying reliable pharma products to the world and the growth prospects are still bright.