The document summarizes the evolution of the Indian pharmaceutical industry over several phases from 1970 to the present. It began with foreign company domination and a lack of organized Indian companies. From 1970-1980 the government instituted controls over drug prices and local companies began to grow. From 1980-1990 the industry expanded domestically and internationally. From 1990-2000 research became a greater focus. Currently India has over 3000 pharmaceutical companies and aims to be a global leader in drug manufacturing due to lower costs. The industry has seen steady growth between 13-14% in recent years.