More emerging sectors, like bio-generics and pharma packaging will also make way for the pharma market to scale up new highs during 2012-14.

The report further reports that, it is expected that the Indian pharma industry is all set to record a robust growth due to an increase in pharmaceutical outsourcing and an upward trend in investments by multinational companies.

The theme for this optimistic future outlook of the pharma industry is because of an improved and expanded reach of medicines to the large Indian population. The focus will shift towards penetrating into the tier-III and rural areas.

Indian pharmaceutical companies export drugs in advanced and regulated countries like the United States and also to Western European countries. Major drug agencies from the advanced nations such as U.S. Food and Drug Administration (U.S.), Medicines and Healthcare products Regulatory Agency (UK), Therapeutic Goods Administration (Australia), Medicines Control Council (South Africa) have given international regulatory approvals to Indian pharma companies to produce drugs. The approvals can be a testimony to the fact about the quality of Indian drugs and also the low pricing of the drugs when compared with other countries.