MUMBAI: Conventional wisdom suggests that healthcare sector is recession proof and does not necessarily mirror the lows and highs of the economy. But surprisingly, India’s attractiveness as a pharma market has suffered a blow with its growth forecast being revised downwards by a global market research firm, amid a slowdown in the economy.
India has slipped from the 8th rank as forecast in 2016 to the 11th position in 2017, figures culled from IMS Health said. The downgrade suggests that the market may not be growing at the pace projected earlier, and has lost value due to the currency fluctuation, impacting the country’s global ranking, experts say.
However, other emerging markets including China, Russia and Brazil have shown an encouraging growth trend, driven by strong macroeconomic indicators and market conditions. Read More
By Rupali Mukherjee