Why Low salaries in the Indian Pharmaceutical industry?
The Indian pharmaceutical industry is one of the fastest-growing industries in the country, and it is known for its cost-effective generic drugs that are exported to various countries around the world. However, it is also true that the salaries in the Indian pharmaceutical industry are relatively low compared to other industries, both in India and globally. There are several reasons for this:
The pharmaceutical industry is highly competitive, with many companies vying for a share of the market. This competition drives down profit margins and, in turn, affects the salaries that companies can offer to their employees.
The Indian pharmaceutical industry is known for its cost-consciousness, with companies constantly striving to keep their costs low. This can lead to lower salaries, especially for entry-level positions.
There is an abundant supply of skilled talent in the Indian pharmaceutical industry, and this can result in lower salaries as companies are able to fill positions with qualified candidates at a lower cost.
The Indian pharmaceutical industry is subject to stringent regulations, which can add to the costs of doing business. Companies may compensate for these costs by keeping salaries low.
It is important to note that while salaries in the Indian pharmaceutical industry may be lower compared to other industries, the industry offers several benefits, such as opportunities for growth and development, a challenging work environment, and the chance to make a meaningful impact on people's lives by developing life-saving medicines. Additionally, as the industry continues to grow, there is the potential for salaries to increase as well. Note: If you are a Pharmacy fresher and have no idea about how to get a job in Industry then we have an eBook for you " Career Launcher ".