The pharmaceutical industry in India ranks 3rd in the world in terms of volume and 14th in terms of value according to Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers. Indian drugs are exported to more than 200 countries in the world, with the U.S. as the key market. Generic drugs account for 20% of global exports in terms of volume, making the country the largest provider of generic medicines globally and expected to expand even further in coming years.
India enjoys an important position in the global pharmaceuticals sector. The country also has a large pool of scientists and engineers who have the potential to steer the industry ahead to an even higher level.
We have recently come out with our landmark publication: Pharma and Lifesciences Industry - Certain Tax, Regulatory and Governance Aspects, in which we have discussed the following aspects relating to pharma industries:
- FDA regulations
- Various tax and legal compliances
- Enterprise Risk Management
- Direct as well as Indirect taxes provisions
- Good Manufacturing Practices
- Good Clinical Practice (GCP Guidelines)
- Various International Laws
In addition, we have discussed the TDS provisions and DTAA guidelines.