As GST is ready to roll out from April 2017 every industry has started to chalk out future strategies. In this blog we are trying to explain the impact of GST on Pharmaceutical industry. Before that let’s understand the dynamics of Indian Pharmaceutical industry.
- Indian Pharmaceutical industry represent 2.4% of the global pharmaceutical industry in terms of value and 10 % in terms of volume
- Expected to expand at a Compound Annual Growth Rate (CAGR) of 15.92 per cent from US$ 20 billion in 2015 to US$ 55 billion by 2020