The Indian pharma industry is one of the largest providers of generic medicines globally. In 2017, the Indian pharmaceutical industry was valued at $33 billion and in terms of volume, its global export of generic medicines stands at 20 per cent globally.
The COVID-19 outbreak impacted the whole supply chain of the pharma industry and majorly impacted the vaccine producers in India. The Serum Institute of India and Bharat Biotech both have a huge responsibility to vaccinate a country like India which is highly populated and diverse in culture.
Global economies are coming forward and supporting India in this difficult time by providing all types of aids, whichever is possible. The second wave of COVID in India devastated the country with more than 30,00,000 daily new positive cases on an average in the first half of May. India itself is the fifth largest economy in the world and contributes a significant part to global economic growth.
Major challenges for the pharma industry during COVID-19
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