India has achieved a significant position in the global pharmaceutical market, and it has become a significant player in the manufacture and export of pharmaceutical products and related services which include generic drugs, over the counter (OTC) medicines, bulk drugs, vaccines, biosimilar and biologics, and contract research & manufacturing services. During 2020-21, the total pharma export was USD 24.35 billion as against the total pharma import of USD 6.66 billion, thus generating a trade surplus of USD 17.68 billion.
Rise in pharma sector & what it means for India
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