Impact of make in India programme on Indian pharmaceutical Sector
Dr. Sharad Ranganath Darandale
Indian pharmaceutical industry is already at the forefront of the Make-in-India initiative. India’s pharmaceuticals industry has been growing rapidly, nearly doubling in the last five years. Most of our domestic demand for drugs is fulfilled by medicines that are made in India. The pharmaceutical sector has come a long way, from import-dependence before the 1970s to today where India is reputed for a deep knowledge base in pharmaceuticals that differentiates it from other low-cost suppliers of pharmaceuticals. In addition to helping ensure affordable and accessible medicines in the far reaches of India, it also generates employment, directly or indirectly hiring around 2.5 million people. This paper covers overview of the Make in India programme impact on Indian Pharmaceutical industry, Initiatives taken by Pharmaceutical Export Promotion Council, Annul Turnover of Indian Pharmaceutical Market, Foreign Direct Investments in Indian pharmaceutical sector, export of Indian Pharmaceutical products, Job creation by Indian Pharmaceutical Sector. The study is based on secondary data. The study shows that, Make in India will bring a growth in the export activities, annual turnover, foreign direct investment, Export of Indian Pharmaceutical Products, Employment generation of Indian Pharmaceutical Sector. Thus, we can conclude that, the “Make in India” Programme came at a right time, to boost economy and generation of employment in India.