Mapping of Entrepreneurship in Pharmaceutical Sector in India

Abstract

Entrepreneurial activity in any nation is becoming an important determinant for growth and development. If entrepreneurial activity is effectively channelized then it can compensate the inevitable deficiency of other factors. Indian Pharmaceutical Industry is an appropriate example in this context. Despite of many odds, Indian Pharmaceutical entrepreneurs have transformed a medicine-supply constrained economy into a nation which has achieved self-sufficiency in medicines, not only for its own citizen but also for one-fourth of the world’s population. India also became net exporter of pharmaceutical products from being an importing country. The present paper traces entrepreneurial roots of top 130 pharmaceutical companies excluding MNCs. The paper also analyzes the geographical dispersion of pharmaceutical entrepreneurship in India. Authors expect to fill the gap in existing literature on entrepreneurship in pharmaceutical sector in India by giving an understanding of underlying factors and conditions which encouraged pharmaceutical entrepreneurial ventures. The paper throws light on aspects such as family enterprises, first-generation entrepreneurs, professional-entrepreneurs and women-entrepreneurs in pharmaceutical sector in India besides exploring relevance of educational background of entrepreneurs in a technical domain, i.e., pharmaceuticals.