ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
-A A +A

Policy Reforms in the Indian Pharmaceutical Sector since 1994

Liberalisation measures in the pharmaceutical sector have brought about major changes in the industrial licensing policy, import restrictions, foreign direct investment and production controls. It was feared that firms would shift from indigenous production to imports, especially of bulk drugs, and this concern was aggravated with the change in the patent law. This paper finds that these apprehensions have only partly come true. Exports of formulations have grown faster while their imports have not registered any jump, keeping the balance of trade positive. But there has been a decline in domestic production of bulk drugs and a growth in imports because the industry is moving away from intermediates and is focusing on bulk drugs at the high end of the value chain.

Subscribers please login to access full text of the article.

New 3 Month Subscription
to Digital Archives at

649for India

$20for overseas users

Get instant access to the complete EPW archives

Subscribe now

Comments

(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top