India's pharmaceutical industry on course for globalisation

India is gaining in importance as a manufacturer of pharmaceuticals. Between 1996 and 2006, nominal sales of pharmaceuticals were up 9% per annum and expanded at a faster  pace than the global pharmaceutical market as a whole (+7% p.a.). Demand in India is growing due to rising population, increasing number of old people and rising incomes. As a production location, the country is benefiting from its wage cost advantages over western competitors.

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