Analysis of Export and Import of Indian Pharmaceutical Products

India followed the system of a control and command economy since 1951, based on the development policies as outlined in its Five-Year Plans. This continued for almost three decades. The principle objectives, among others, were: (a) to increase aggregate output, (b) to reduce unemployment, (c) to work towards self-reliance and self-sufficiency and (d) reduction in disparities. The priority of these objectives changed from plan. The Indian economy since 1991 has been undergoing constant and drastic economic reforms. These have resulted in a shift from the inward-oriented policy of the past to an outward looking one. Although this process of reform started in the mid-1980’s, it suffered interruptions owing to an over-cautious approach adopted by the Govt. The major objectives of these reforms were to attain higher growth and efficiency.