SECTION IV: ABOUT OUR COMPANY
INDUSTRY OVERVIEW

The information contained in this section, unless otherwise specified, is derived from a report titled “Pharmacy
Retail in India” dated November 19, 2021 prepared by Technopak Advisors Pvt. Ltd. (the “Technopak Report”),
who we appointed on June 10, 2021, and commissioned and paid for by our Company in connection with the Offer.
Industry sources and publications generally state that the information contained therein has been obtained from
sources generally believed to be reliable, but that their accuracy, completeness and underlying assumptions are not
guaranteed and their reliability cannot be assured. Industry publications are also prepared based on information
as at specific dates and may no longer be current or reflect current trends. Accordingly, investment decisions should
not be based on such information. See “Certain Conventions, Presentation of Financial, Industry and Market Data
and Currency of Presentation — Industry and Market Data” on page 25.

INDIA - MACROECONOMIC OVERVIEW

India is the sixth largest economy in the world in terms of nominal gross domestic product (“GDP”) and the third largest in
terms of purchasing power parity (“PPP”), with an average annual growth rate between 6% to 7% since financial year 1991
(Source: World Bank data). The table below sets out the GDP and PP ranking of the top 10 global economies, as of December
31, 2020.

 

 

 

 

 

 

 

 

 

 

 

% Share (World GDP, % Share (World
Combs Rank at current prices) Renkere GDP, PPP)
United States 1 24.7% 2 15.8%
Chilis 2 17.4% 1 18.3%
Japan* 3 5.8% 4 3.9%
Germany 4 45% 5 3.3%
United Kingdom 5 3.2% 9 2.3%
India 6 3.1% 3 6.7%
France 7 3.1% 8 2.3%
Italy 8 2.2% 10 1.8%
Canada 9 1.9% 14 1.3%
Korea, Republic 10 1.9% 13 1.7%

 

 

 

 

 

 

 

Note: * - Available for 2019
Source: World Bank Data, RBI, Technopak Research

The global economy was severely impacted in 2020 due to the outbreak of the COVID-19 pandemic, with its impact varying
from country to country. Whilst the economic downturn has been severe in some countries, it has been modest in others. India’s
nominal GDP was expected to contract by 3% in financial year 2021, primarily due to the impact of the COVID-19 pandemic
and the consequent lockdowns imposed across the country, thereby leading to a contraction in the economy. However, it is
estimated that India's GDP will resume its pre-COVID growth rate by financial year 2022. The graph below sets out India’s
nominal GDP in USD billions over the last several financial years.

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