OBJECTIVES: Pharmacoeconomics is the application of economics to assess pharmaceutical and health care products that helps evaluate economic, clinical and humanistic outcomes of health care products and interventions.  It gives health care decision makers, providers and patients with valuable information for optimal use and allocation of limited healthcare resources. In India, the awareness of pharmacoeconomics is relatively low among policy makers, academia and industry.  As India’s pharmaceutical market changes and evolves, the study of pharmacoeconomics and associated research is expected to gain momentum.   METHODS: Secondary research was conducted using PubMed. Several search terms like “pharmacoeconomics”, “cost minimization”, “cost benefit”, “cost utility”, and “cost effectiveness” analysis were used. These terms were also used in different combinations, e.g., “Cost Minimization Analysis and Pharmacoeconomics and India”, “Cost Benefit Analysis and Pharmacoeconomics and India”, to extract relevant studies. No search term or time restrictions were applied while extracting studies.  RESULTS: Overall, a total of 228 studies were extracted using the search terms.  “Pharmacoeconomics and India” yielded 192 results out of which only five studies were relevant to pharmacoeconomics in India. Search terms “Cost Minimization Analysis and India and Pharmacoeconomics” gave only two results.  Fifteen results were obtained for the term “Cost Benefit Analysis and Pharmacoeconomics and India” out of which four studies were relevant to the objective. “Cost Utility Analysis and Pharmacoeconomics and India” resulted in four results out of which two were repetitions of results from “cost minimization analysis”. “Cost effectiveness analysis and pharmacoeconomics and India” resulted in 15 results; 10 in last 10 years and only 2 were relevant. CONCLUSIONS: As seen from the results, not much pharmacoeconomic research has been conducted in India suggesing the dearth of literature in this area in India.  As the Indian pharmaceutical market evolves and policies change, greater amount and rigorous pharmacoeconomics research may be needed.