New Delhi, June 6 -- India's pharmaceutical sector is experiencing significant relief as the prices of Active Pharmaceutical Ingredients (APIs) have dropped sharply, thanks to increased domestic production and aggressive pricing strategies from Chinese suppliers.

This decline is expected to enhance profit margins and stabilise the supply chain within the industry.

The surge in API prices during the COVID-19 pandemic had strained India's pharmaceutical companies, which rely heavily on imports for key ingredients.

For instance, the price of paracetamol API soared from Rs 900 per kg during the pandemic to Rs 600 shortly after, but it has now decreased to Rs 250 per kg.Similarly, the cost of meropenem API has fallen from Rs 75,000 per kg t...