What are your thoughts on the current pharma industry in India?
Pharmaceutical industry is highly regulatory-driven industry, which brings along its own set of opportunities and risks that need to me mitigated. Currently, India is one of the largest pharma markets in the world. The government too is undertaking a lot of initiatives with regards to pharma industry recently and is trying to associate with pharma companies in the R&D and innovation areas. Along with offering incentives and other benefits, the government’s PLI scheme is also acting as a driving force for the pharmaceutical industry in India lately.
While pharma industry was so far largely dependent on China for key raw materials, the scenario is expected to slowly change, wherein many of the pharma companies from across the world will look at India as the major pharma hub with complete backward integration. As a result, India is expected to become self-reliant for the demand of most of the chemicals going forward.
This story is from the October 2023 edition of CEO Insights.
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This story is from the October 2023 edition of CEO Insights.
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