Is there any major Indian industry without the dominance of the Tatas, Birlas, Ambanis, and other large legacy business houses? Think of IT and automobiles, and you run into TCS and Tata Motors. If it is finance, you have the Bajajs. Take any of the large industrial sectors and a prominent legacy business house will be listed in the Top Five. Except for pharmaceuticals, India’s remarkable industrial success story is based on home-grown entrepreneurs within the industry that have made it big in the last four decades. The Indian pharma industry is now a global powerhouse in the world of generics, the largest manufacturer of vaccines, the fifth largest net exporter of medicines, and is that rare Indian manufacturing sector that exports even more than the world’s factory – China.
Who are these Indian pharma entrepreneurs who succeeded in making India the “pharmacy of the world”, a popular tagline of the industry, and do we have books written on their trajectories? Memoirs or corporate biographies of the three pre-1947 pioneering firms were already published by the 1970s: The 1932 memoir of PC Ray, founder of India’s first large indigenous pharma firm, Bengal Chemical and Pharmaceutical Works in Kolkata in 1901; a book...
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