India 's Pharmaceutical Industry : India

856 WordsJul 24, 20154 Pages
Years ago, India 's pharmaceutical industry was experiencing a number of international trade limits because of their abuse of intellectual property rights. The Indian organizations used to duplicate patents of drugs made by Western nations and Japan with no obligation to property rights. This would discourage international investors from participating in India 's drug industry. India was useful for making generic brand drugs in light of the fact that the patents for those drugs at that point had already lapsed. Be that as it may, the circumstance has changed considerably as of recent years because of the rising interest for international trade. Particularly, with the induction of India into World Trade Organization (WTO) in 2005, and with that came the appreciation and protection for property rights. The fact that India is a member of WTO has facilitated the way for foreign investors to begin participating in India 's numerous commercial ventures including the drug industry. Because of the flow of investments and Western participation, India 's pharmaceutical industry has seen exceptional development since 2005. As per the case, by 2011, the industry reached $11.5 billion. There are a number of components that have contributed towards this remarkable development in the drug business. The beginning event that started the development was India 's concurrence with WTO which offered protection to intellectual property rights and assurance to international investors.

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