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In 1991, India faced a significant financial crisis marked by steep custom tariffs, some as high as 150% on various imports. This economic challenge deeply affected India's imports including the pharmaceutical industry which was heavily dependent on imported active pharmaceutical ingredients and bulk drugs. The escalated duties made importing these essential components economically unfeasible. Recognizing the necessity to promote domestic manufacturing of these imported bulk drugs and to promote self-reliance and reduce dependence on imports, Lake Chemicals Pvt. Ltd. was founded in 1992 in Bengaluru by Mr. Manoj C. Palrecha, a visionary leader at the age of 31. Mr. Palrecha was motivated by a strong desire and commitment to contribute to India's pharmaceutical sector and improve patient welfare. With a dedicated team of professionals leading various functions who are the pillars of this organization, Lake Chemicals has experienced substantial growth under Mr. Palrecha's guidance.