The document discusses the growth of the Indian pharmaceutical industry. It notes that the 1970 Indian Patent Act allowed only process patents for 5 years for drugs, hindering multinational pharmaceutical companies. The 2005 amendment allowed 20-year product patents, attracting more investment. Key growth enablers for the industry include stronger intellectual property enforcement, increasing clinical trials and mergers & acquisitions, offshoring of research and development to India, and regulatory and fiscal reforms. The future outlook is positive with India emerging as a leading global player, though challenges around investment in research and development remain.

7. GROWTH ENABLERS IPR ENFORCEMENT Accelerating Clinical Trials Increasing M&A Off shoring of R&D Activities Proven Prowess In Data Management Regulatory Reforms Fiscal Reforms

11. The Entry into Market

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