Research suggests that the Indian pharmaceutical sector is the world’s second-largest by volume and in all likelihood, leads the manufacturing sector of India. In terms of the global market, India currently holds a modest 1-2% share, but it has been growing at approximately 10% per year. India has also gained its foothold in the global scene with its innovatively engineered generic drugs and active pharmaceutical ingredients.
Internationally, India is positioned as third in terms of volume as well as fourteenth in terms of value. According to the Department of Pharmaceuticals, the entire revenue of India’s industry in the middle of 2008 and September 2009 was US $21.04 billion. Mumbai, Hyderabad as well as Ahmedabad are the major hubs of the country. Also, the domestic market is anticipated to reach US $49 billion by 2020.