India is often referred to as the “pharmacy of the world,” particularly for its role in manufacturing and supplying affordable generic drugs. The country’s pharmaceutical industry is a global leader in producing generic medications, contributing significantly to global healthcare by making essential medicines accessible and affordable to countries across the world.

However, it also faces several challenges and criticisms. The Indian pharmaceutical industry heavily relies on imports for its raw materials, especially Active Pharmaceutical Ingredients (APIs), predominantly from countries like China. This overdependence on imports for critical raw materials poses a risk of supply chain disruptions, as seen during the initial stages of the COVID-19 pandemic. The industry has also faced criticism and challenges related to intellectual property rights, including patent infringements, frivolous oppositions, and disputes with multinational pharmaceutical companies. This has led to a perception of a weak Intellectual Property Rights (IPR) regime, impacting India’s relationship with global markets and investors.