About the Book: Indian Pharmaceutical Industry in the Era of Globalization
The Pharmaceutical Industry in India has been a success story for the
development of an Indigenous and self-reliant industry. The pharmaceutical
sector of Indian economy is an imperative module of health system and planners
fittingly acknowledged its role by awarding it the 1970 Patent Act. However the
launching of economic reforms in 1990s, creation of WTO and implementation of
TRIPS agreements in 2005 altered the economic paradigm of Indian Pharmaceutical
Industry. The Act encouraged significant numbers of foreign pharmaceutical
companies to participate in the Indian market and Indian Pharmaceutical Industry
entered into a new era of competition