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Indian pharma industry to grow to 75 billion dollars by 2020
Chennai, June 26: The pharmaceutical industry in India is expected to grow from 5.5 billion US dollars now to 25 billion USD by 2010 and 75 billion USD by the year 2020, the industry sources said here today.
Chennai, June 26: The pharmaceutical industry in India is expected to grow from 5.5 billion US dollars now to 25 billion USD by 2010 and 75 billion USD by the year 2020, the industry sources said here today.
India is one among the top five pharmaceutical manufacturers in the world, T S Jaishankar, president of the Federation of South Indian Pharmaceutical Manufacturers' Association (FOSIPMA), which was inaugurated by Tamil Nadu health minister, N Thalavai Sundaram here this evening, said.
The federation is the apex body of pharmaceutical manufacturers' associations of all the four southern states and the Union territory of Pondicherry.
The pharma industry was growing fast, with 12,000 licensees, 90 per cent of whom were from the small-scale sector. Nearly 95 per cent of the drugs in the country are supplied by the small-scale sector, the remaining by the multi national companies. India accounted for 30 per cent of pharmaceutical exports, he said.
Inaugurating the federation, Thalavai Sundaram said south India was becoming the 'preferred location' for industry in pharmaceuticals for Indian as well as multinational companies. The state government was ready to offer all help to the industry, he said.
Bureau Report
The federation is the apex body of pharmaceutical manufacturers' associations of all the four southern states and the Union territory of Pondicherry.
The pharma industry was growing fast, with 12,000 licensees, 90 per cent of whom were from the small-scale sector. Nearly 95 per cent of the drugs in the country are supplied by the small-scale sector, the remaining by the multi national companies. India accounted for 30 per cent of pharmaceutical exports, he said.
Inaugurating the federation, Thalavai Sundaram said south India was becoming the 'preferred location' for industry in pharmaceuticals for Indian as well as multinational companies. The state government was ready to offer all help to the industry, he said.
Bureau Report