for the Indian companies.
"The main focus of the Indian companies is on countries with ageing populations such as Japan, Africa, and Latin America, which need cheaper drugs," the report said.
Besides, the multinational (MNCs) firms are investing and driving growth in the Indian life sciences industry despite stiff price competition, government price controls, and limited availability of infrastructure, the report said.
"India has a fragmented life sciences industry, with stiff price competition, government price controls, and limited availability of infrastructure. Nonetheless, MNCs are increasing their operations in India and creating opportunities to drive industry growth in the country," it added.