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The Indian pharma industry is a very dynamic sector and has witnessed tremendous growth as well as challenges over the last few years. This industry is expected to outperform the global pharma industry given the increasing health awareness, higher incidence of lifestyle diseases and booming healthcare insurance sector. In light of such anticipated growth rates, it is imperative that the pharma sector gets the necessary fillip on the income-tax front in the eagerly awaited union budget 2017.
As R&D is crucial to put India on the growth trajectory, it is important that the sunset date of 31 March 2020 applicable to
