Development of India’s Pharmaceutical Industry

Abstract

The development of India’s pharmaceutical industry has played a significant role in boosting the availability and affordability of pharmaceuticals. With significantly lower manufacturing costs relative to those in developed countries, Indian companies were able to lower the drug prices and increase access to medicines in India as well as in other low- and middle-income countries (LMICs). A number of policies introduced in the 1970s (discussed later in the chapter) underpinned this growth from a virtually non-existent pharmaceutical industry to becoming the world’s largest producer of generics.