India's pharmaceutical, biotechnology, and life sciences sector is one of the fastest-growing industries globally, fueled by an expanding domestic market.

Despite facing challenges such as regulatory hurdles, a shortage of skilled workers, high research and development costs, and intellectual property issues, the sector is poised for growth. Government support, strategic policy interventions, and the encouragement of foreign direct investment (FDI) are expected to stimulate further development in this dynamic industry. 

Advisory on a global level

Our private healthcare advisory teams operate on a global level and offer insights and practical guidance in the UK and internationally.

Practical experience

We have years of practical industry experience, which guarantees our understanding of the distinctive aspects that characterise your market.

Sector knowledge

Our technical expertise spans across the entire sector, from primary and secondary care providers to medical device companies, retail healthcare providers, and healthcare distributors.

AI and life sciences: Navigating risks and challenges

As AI continues to transform other sectors, the life sciences industry has only recently begun to realize its full potential.

    Our insights

    View all

    Pharma and Healthcare Dealtracker: Q1 2026

    Thought leadership

    Pharma and healthcare deal activity in Q1 2026 reflects steady volumes alongside a more measured approach to capital deployment.

    06 May 2026

    Union Budget 2026: Government’s sankalp to build a Healthy India and shape a Viksit Bharat

    Article

    Union Budget 2026 signals a decisive pivot in India’s health policy to build the full stack required for an innovation-led, patient-centred health economy.

    5 min read | 16 Feb 2026

    Pre-Budget expectations 2026

    Follow #BudgetWithGT

    Explore Grant Thornton Bharat’s pre-Budget 2026 insights across sectors including automotive, banking, technology, infrastructure, healthcare, taxation, and investment priorities shaping India’s economic, regulatory, and policy landscape.

    01 Feb 2026
      View all
      Indian multinational pharmaceutical company

      Indian multinational pharmaceutical company

      1.
      Problem statement
      The client wanted to examine and review annual GST compliances to identify any non-compliances, process gaps, and scope for improvement.
      2.
      Our Solution
      We reviewed the client's compliance processes to identify lapses in procedures, positions, and documentation. We implemented controls to prevent the misuse of input tax credits (ITC) across states and to ensure timely issuance of credit...
      3.
      Impact
      The efficiency of the client’s compliance process improved, building tax efficiency in their entities and reducing the cost borne by them due to non-compliance and lapses in the process.
      Assisting a pharma firm with end-to-end tax compliance

      Assisting a pharma firm with end-to-end tax compliance

      1.
      Problem statement
      While performing their day-to-day compliances under the erstwhile indirect tax regime and later on with the advent of Goods and Services Tax (GST) law w.e.f. 1 July 2017, a fortune 500 pharmaceutical company was looking for a one-point...
      2.
      Our Solution
      Our experts initially guided the client through comprehensive compliances under the previous tax regime, improving their complex data collation processes, and later expanded our role to include assessments and litigation support. With the...
      3.
      Impact
      The client was able to streamline their ERP and IT systems, enabling a hassle-free process of filing GST returns and issuance of e-invoices under GST. Further, our prompt proposition led to the successful closure of numerous litigations...
      Data architect and modelling for Blackline implementation

      Data architect and modelling for Blackline implementation

      1.
      Problem statement
      The client, as part of their growth strategy, was executing a large finance transformation (FT) programme with multiple initiatives. In this regard, they wanted expertise in data architecture with profiling and modelling capabilities to...
      2.
      Our Solution
      Our team quickly began working on the transformation programme which was mid-way. Engagement was initiated with global stakeholder groups to identify the modelling requirements for open item matching and balance sheet quality. Our project...
      3.
      Impact
      In 12 Months, our team delivered the engagement expectation along with a detailed reusable data model for balance sheet reconciliation, improving accuracy and efficiency. The data model to capture the difference in volume between FI and...

        Our leader

        Bhanu Prakash Kalmath S J

        Partner and Healthcare Industry Leader
        Bengaluru  Office
        View full profile