The Pharmaceuticals Industry in India is the largest provider of generic drugs globally with the Indian generics accounting for 20% of global exports in terms of volume. India enjoys an important position in the global pharmaceuticals sector. The country also has a large pool of scientists and engineers who have the potential to steer the industry ahead to an even higher level.
Presently, over 80 per cent of the anti-retroviral drugs used globally to combat AIDS (Acquired Immuno Deficiency Syndrome) are supplied by Indian pharmaceutical firms. The UN-backed Medicines Patent Pool has signed six sub-licences with Aurobindo, Cipla, Desano, Emcure, Hetero Labs and Laurus Labs, allowing them to make generic anti-AIDS medicine TenofovirAlafenamide (TAF) for 112 developing countries.
The Union Cabinet has given its nod for the amendment of the existing Foreign Direct Investment (FDI) policy in the pharmaceutical sector in order to allow FDI up to 100 per cent under the automatic route for manufacturing of medical devices subject to certain conditions.
Turnover of Gujarat Pharmaceutical industry was worth USD$ 6.7 Billion in 2015-16; while exports was worth USD% 3.06 Billion. Provides employment to around 85,000 people. More than 255 WHO-GMP compliant manufacturing facilities in India are from Gujarat. Accounts for 53% of the total medical devices manufacturers in the country