Saturday, June 4, 2011

Pharmaceutical Machineries

During the 60's and 70's the pharmaceutical industry mostly imported machines from Europe for their processing and packaging needs. But the mid 70's saw the country going through a severe shortage of foreign exchange and therefore the Indian government introduced very high import duties and restrictive import licensing policies. This forced all the pharmaceutical companies to encourage some Indian engineering enterprises to manufacture machines locally. This was perhaps the only route for the pharmaceutical industry to enhance production and cater to the growing demands of the domestic market.

The most significant aspect of the Indian pharmaceutical industry is that at the time of Independence the foreign manufacturers had stranglehold on the market but today the Indian manufacturers have turned the table with the market share close to 75%. In fact India is now the fifth largest producer of drugs and pharmaceutical after USA, Japan, Europe and China.

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