India is the largest provider of generic drugs globally with the Indian generics accounting for 20 per cent of global exports in terms of volume, according to pharma industry experts. The current status of pharma industry in India is decent. However, there are ongoing changes in policy which can lead to confusion in business. There are mammoth opportunities in India. India is a good exporter of generic business and we have also taken a big jump recently. According to pharma industry experts, standard of the drugs is the only concern for the market. India’s healthcare budget is less. The country spends only a small part of GDP (Gross Domestic Product) on healthcare while in other countries 4-5 per cent of GDP is outlaid on healthcare. India should become part of PIC/S (Pharmaceutical Inspection Co-operation Scheme). The Pharmaceutical Inspection Co-operation Scheme (PIC/S) is a non-binding, informal co-operative arrangement between Regulatory Authorities in the field of Good Manufacturing Practice (GMP) of medicinal products for human or veterinary use.

(NDTV)