The Indian pharmaceutical Industry today is in the front rank of India's science-based industries. Estimated to be worth $4.5billion, growing to about 8 to 9% annually. 2nd fastest growing industry sector in the country with the growth rate of 12.9% during the year 2013-2016. 17th in terms of pharmaceutical export value in the global pharmaceutical industry The domestic turnover of the industry stood at Rs. 525.6 billion in 2008. Ranks 4th in the world in terms of volume (8% global share) and 14th in terms of value (1.9% global share). Meets around 70% of the country's demand for bulk drugs, drug intermediates, pharmaceutical formulations, chemicals, tablets, capsules, orals and injectable