The Indian Pharma industry is aspiring to touch $130 billion by 2030, according to the Indian Pharmaceutical Alliance (IPA). With a 70 percent market share, generic drugs form the largest segment of the Indian Pharma sector. Over-The-Counter (OTC) medicines constitute about 21 percent of the market, while patented drugs constitute nine percent of the market. India is the world's largest supplier of generics, accounting for 20 percent of the global exports. Moreover, India is the world's third-largest manufacturer of drugs by volume and the largest exporter of formulations. The industry is heavily-regulated with complex policies to ensure the quality, safety, and efficacy of the drugs.

The Pharma industry is predicted to grow substantially in the decades ahead. Major innovations and technical advancement in the sector will continue to drive the magnitude and growth of the sector. Continuous Research & Developments are going on in this sector, as the population around the world are subjected to outbreak of new microbes and new diseases every now and then. Research is also going on, to find remedies to cure many deadly diseases completely. All these will enhance the growth of the sector in coming years.

The Pharmaceutical industry stands as one of the top five industries in the global economy in terms of the total value, which is approximating $1.4 trillion. As of now, the growth of the pharmaceutical industry...