Pharmaceutical industry is one of the fastest growing industries. This industry has a significant impact on lives of everyone. Irrespective of any kind of status whether it is financial or demographic, this industry has the same impact on everyone. Increasing infections and proneness to diseases has considerably increased a person’s expenditure towards medicines. Non regulation of prices of pharmaceutical companies and increasing competition among various companies has made the prices of medicines to soar high. This necessitated some action so that medication could be affordable for everyone. Thus, the awareness relating to making the people aware of the chemical composition of the medicine was sought to be made. This resulted in the trend of generic medicine. This research has been undertaken to study the market penetration of generic medicines. This empirical study has been done on Tinsukia Town of Assam, India and is based on primary data collected from the respondents which included consumers as well as pharmacists of Tinsukia; through Schedules. A total of 100 consumers and 20 pharmacists were conveniently selected for the study. Secondary data had collected from various sources such as websites and online journals. Data analysis has been carried out using various tools of descriptive and inferential statistics. Conclusions and recommendations have been based on data analysis.