Nandini

Covid19 vaccine production in india – changing market scenario

• Authors Details :  
• Nandini Jagannarayan,  
• Dr Indra

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India is in the midst of a severe second wave of Covid-19. As per the Global Commission for Post-Pandemic Policy by mid-April of 2021, India had manufactured nearly 17 percent of all Covid-19 vaccine doses globally. It was the world’s fourth-largest producer, after China (about 36 percent), the United States (about 22 percent) and the European Union (more than 17 percent). Even so, following a shortage of vaccines and with insufficient local production, Government of India decided to import more foreign vaccines with quicker approval process for vaccines accepted in US/EU markets. India is currently using made-in-India vaccines, namely, Covishield manufactured by Serum Institute India and Covaxin of Bharat Biotech in its COVID-19 immunisation programme. The shortcoming in the production of vaccines and its dissemination within the country urges one to understand who the local producers are and how the market is playing out. This paper looks at the evolving market structure of vaccine production in India in the textbook framework of an oligopoly market. We use secondary data sources and daily newspaper briefs.

Article Subject Details

• Coronavirus

Article Keywords Details

• demand saturation
• economies of scale
• oligopoly
• producer behaviour
• Vaccine Production

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