With world class infrastructure and regulatory environment, India has emerged as a manufacturing powerhouse especially the Pharma and Biotech segments of Lifesciences industry which together constitute nearly 4% of India’s GDP. According to the Indian Economic Survey 2021, India’s Pharma industry is predicted to triple its size in a decade, whereas Biotech Industry is expected to more than double by 2025. India is also the third largest biotech player in the APAC region.
Though India is heavily dependent on China for several critical API and key starting materials for many pharma products due to low cost supply, the Covid-19 pandemic has provided a lot of opportunities in terms of product development, research, medical supplies manufacturing, etc. especially for Pharma industry & Biotech Industry. Through this whitepaper, we aim to explore the short-term and long-term impact of the pandemic on the Indian pharma and biotech sector, and the measures being undertaken by the central and state governments to augment the growth of the sector in the country.