Why Pharmaceutical Industry Highly Successful in India
As we all know India is a growing country, new ventures, innovations also taking place in the growing nation. The people of India also becoming aware of new trends. As new business introducing in a market, Pharmaceutical is one of the biggest and profitable business opportunities.
As India is the 3rd largest drug producing nation. And demand of Pharmaceuticals also high in all over the world. India also exports their Drugs in other countries.
One of the major reason for Pharmaceutical success is people becoming aware of their health and drugs. For any health-related issue now they follow proper medicines dosage in terms of home remedies. The government also support and promote Pharmaceuticals.
Reasons For Pharmaceutical industry highly successful in India
· Generic Drugs: People who don’t know generic drugs mean, generic drugs are commensurat to the ones which come from big brands, in charge of performance and quality; however, the prices of these drugs remain very low in comparison to the ones sold by the big brands. The efficiency of generic drugs is also quite excellent. This is the major reason why India has turned out to be the 3rd biggest drugs producer in the world.
Export to Developed Countries: The second reason for success is export to other developing countries Export to other developing countries. As we all know in India IT and Pharmaceutical sector is one of the largest and biggest industry. Both the IT sector and PCD pharma Franchise sector of India are doing very well in earning a point of view. Easy availability of material at a low price and high-quality manpower in India, the smaller size pharma companies also produce drugs at low prices. Now, a significant amount of the drugs manufactured is exported to the developing countries. In fact, the USA is the biggest market for the pharma sector of India. So, this is another reason for the success of Pharmaceutical in India.
Government support: Without the help of the government, no country can move forward .Even if she/he does any work, she/he goes ahead and reads to follow the rules of the government. PCD Pharma Franchise is that one sector to which authority support and promote on high level. Pharma is one of the sectors in which FDI 74% allowed from the start. It gave great exposure Indian pharma industry. Companies from developed world came created new strategies, techniques for pharma industry in India. Other than that government has also supported Indian companies with favorable patent.
Indian Pharmaceutical industry is estimated at $ 12 billion in 2013. The market is primarily driven by exports to monitor as well as semi-coordinated markets. Currently, India exports drugs more than 200 countries all over the world and vaccines, biopharmaceutical products to about 151 countries.
In the end, we can say the PCD Pharma franchise business is one the largest profit earning industry. It helps a lot of people and gives business exposures to business opportunities seeker. The government also helps in this venture like in reducing tax and offer a great margin on medicines. Any person who wants to earn a high profit and want to start his/her new venture and wanted to settle in the market, so the Pharma industry is one the best business opportunities for them for startup.