President Barack Obama’s health care law may have locked many American offices, but it can prove to be very beneficial for India . With the implementation of this law, the demand for generic drugs in America will increase and India is emerging as a big power in the matter of such drugs.
At present, India meets about 40 percent of the demand for generic drugs in the US. It is expected to increase further in the coming times. This will benefit those pharmaceutical companies of India who make generic medicines. Along with this, employment opportunities will also increase in the country. The US may have faced many problems due to the new health care law due to opposition from Republicans, but when the current crisis is resolved, new opportunities will be created for India to earn foreign exchange.Sources say that due to the new health care law, millions of Americans will get the benefit of health insurance and this will encourage the purchase of generic drugs. India’s generic pharmaceutical industry is currently growing at a rate of about 30 percent per annum. Increasing demand for generic drugs in the US will also boost its pace.