India among top 10 pharma mkts by 2020: PWC

STAFF WRITER 17:19 HRS IST

New Delhi, Apr 13 (PTI) India will join the league of top 10 global pharmaceuticals markets in terms of sales by 2020 with the total value reaching USD 50 billion by then, according to a report by PricewaterhouseCoopers (PwC).

The country's population is growing rapidly, as is its economy-?creating a large middle-class that can to afford western medicines, consultancy firm PwC's report said.

An ageing population together with increase in problems associated with cardio-vascular disorders and central nervous system will lead to higher demand for drugs, the report said.

Around USD 70 billion worth of drugs are expected to go off patent in the US over the next three years and India is capable of manufacturing a substantial share of the products.

India can become 3rd largest economy by 2012: PwC

NEW DELHI: The US financial crisis may have expedited a shift in global economic power. According to a report by global consultancy firm Economy PricewaterhouseCoopers (PwC), India could become the world’s third largest economy by purchasing power parity (PPP), overtaking Japan in 2012.

This would be almost 20 years ahead of Goldman Sachs’ projection of 2032 in its BRIC (Brazil, Russia, India, China) report.

India is also expected to grow faster than China after 2020. China, which was projected to become the world’s largest economy by 2041, now looks set to achieve the distinction sometime around 2020, the PwC report said.


‘‘While the exact date is open to doubt, it seems highly likely that, by 2030, China will clearly be the largest economy in the world on PPP,” writes PwC head of macroeconomics John Hawksworth in the report.

ET