The Indian pharmaceutical industry is one of the fastest growing sectors of the Indian economy. It has observed accelerated growth over the past few years. From being an import dependent industry in the 1950s, the industry has achieved self-sufficiency and gained global recognition as a producer of low cost high quality bulk drugs and formulations in a very short span of time. India's domestic pharmaceutical companies have experienced a significant increase in R&D spending to be competitive in the world market. Some of the leading Indian pharmaceutical companies have developed infrastructure in more than 60 countries around the globe including developed markets like USA and Europe.

This phenomenal growth rate and immediate success has demonstrated the potential of Indian pharmaceutical industry and has proved that it has ample resources and talent to engage in commercially viable R & D activities and become the market leaders in the international market.