Patent is one of the major forms of Intellectual Property Rights (IPRs) used in the pharmaceutical industry. Trade mark, industrial design, geographical indication and copyright are other forms of IPRs available in India. Grant of patent in India is governed under the Patents Act, 1970. Significant changes like provision of product patents and increase in the term of patent to 20 years were introduced in the Indian patent law, after India signed TRIPS (Trade Related Aspects of Intellectual Property Rights) agreement in 1995. This review provides a brief overview of development of patent law in India as a consequence of TRIPS agreement. Criteria of patentability and different types of pharmaceutical patents currently being granted in India are described with the aim to provide the fundamental knowledge of pharmaceutical patenting to the researchers. Other relevant provisions related with patenting of pharmaceuticals like section 3(d), transfer of the patent rights, compulsory licensing etc. are explained with suitable example.