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                                                                    EXHIBIT 31.1

           CERTIFICATION OF THE CHIEF EXECUTIVE AND FINANCIAL OFFICER

         I, Jitendra N. Doshi, the Chief Executive Officer and Chief Financial
Officer of Caraco Pharmaceutical Laboratories, Ltd. (the "registrant") certify
that:

         1.       I have reviewed this annual report on Form 10-KSB of the
                  registrant;

         2.       Based on my knowledge, this annual report does not contain any
                  untrue statement of a material fact or omit to state a
                  material fact necessary to make the statements made, in light
                  of the circumstances under which such statements were made,
                  not misleading with respect to the period covered by this
                  annual report;

         3.       Based on my knowledge, the financial statements, and other
                  financial information included in this annual report, fairly
                  present in all material respects the financial condition,
                  results of operations and cash flows of the registrant as of,
                  and for, the periods presented in this annual report;

         4.       I am responsible for establishing and maintaining disclosure
                  controls and procedures (as defined in Exchange Act Rules
                  13a-15(e) and 15d-15(e) for the registrant and I have:

         9.       Designed such disclosure controls and procedures, or caused
         such disclosure controls and procedures to be designed under my
         supervision, to ensure that material information relating to the
         registrant is made known to me by others, particularly during the
         period in which this quarterly report is being prepared;

         10.      [Intentionally omitted];

         11.      Evaluated the effectiveness of the registrant's disclosure
         controls and procedures and presented in this report my conclusions
         about the effectiveness of the disclosure controls and procedures, as
         of the end of the period covered by this report based on such
         evaluation; and

         12.      Disclosed in this report any change in the registrant's
         internal control over financial reporting that occurred during
         registrant's most recent fiscal quarter (registrant's fourth fiscal
         quarter in the case of an annual report) that has materially affected,
         or is reasonably likely to materially affect, registrant's internal
         control over financial reporting; and

         5.       I have disclosed, based on my most recent evaluation of
                  internal control over financial reporting, to the registrant's
                  auditors and the audit committee of the board of directors (or
                  persons fulfilling the equivalent functions):

                  (i)      All significant deficiencies and material weaknesses
                           in the design or operation of internal control over
                           financial reporting which are reasonably likely to
                           adversely affect the registrant's ability to record,
                           process, summarize and report financial information;
                           and

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                  (ii)     Any fraud, whether or not material, that involves
                           management or other employees who have a significant
                           role in the registrant's internal control over
                           financial reporting.

March 30, 2004

                                             /s/ Jitendra N. Doshi
                                             -----------------------------------
                                             Jitendra N. Doshi
                                             Chief Executive Officer
                                             and Chief Financial Officer