Indian pharma CRAMS sector enjoying 41.4pc growth
India's contract research and manufacturing services sector is due to record 41.4 per cent growth.
India's contract research and manufacturing services (CRAMS) sector is currently valued at around $8.2 billion, it has been claimed.
Satya Brahma, chairman of the board at the fifth Annual Pharmaceutical Leadership Summit & Awards 2012, revealed that the sector is on a 41.4 per cent growth trajectory, compared with a global average of just 12.6 per cent.
He said that India's outsourcing market "has increased with great speed in comparison to global markets such as the US & China, primarily due to India's big advantage in manufacturing and technology excellence".
India also provides global pharmaceutical companies with a low-cost location for their non-core activities.
The country is one of four that have received particular attention from the global pharmaceutical industry in recent years, with Brazil, Russia and China making up the other so-called 'BRIC' markets.
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