India: Pharmaceuticals

The Indian pharmaceutical industry at $6.5 billion and growing at 8-10% annually, is the 4th largest pharmaceutical industry in the world, and is expected to be worth $12 billion by 2008.
Its exports are over $2 billion. India is among the top five bulk drug makers and at home, the local industry has edged out the Multi-National companies whose share of 75% in the market is down to 35%.
Trade of medicinal plants has crossed $900M already.
There are 170 biotechnology companies in India, involved in the development and manufacture of genomic drugs, whose business is growing exponentially.
Sequencing genes and delivering genomic information for big Pharmaceutical companies is the next boom industry in India.