India 's Pharmaceutical Industry : International Trade Limits On Account Of Their Abuse Of Intellectual Property Rights

858 WordsJul 24, 20154 Pages
India 's pharmaceutical industry was facing various international trade limits on account of their abuse of intellectual property rights. The Indian organizations used to copy licenses of drugs made by Western nations and Japan with no obligation to property rights. This would dishearten international investors from taking interest in India 's drug industry. India was useful for making nonexclusive, brand drugs in light of the fact that the licenses for those drugs at that point had already lapsed. In any case, the situation has changed considerably as of recent years because of the rising interest the in international trade. Particularly, with the induction of India into the World Trade Organization (WTO) in 2005, and with that came the gratefulness and security for property rights. The fact that India is a member of the WTO has encouraged the mode for foreign investors to begin participating in India 's numerous commercial ventures to include the drug industry. Because of the flow of investments and Western participation, India 's pharmaceutical industry has seen a remarkable advancement since 2005. According to the case, by 2011, the industry approached $11.5 billion. There are a number of components that have contributed towards this amazing improvement in the drug business. The starting occasion was India 's concurrence with the WTO, which offered security to intellectual property rights and assurance to international investors. Furthermore, India has a few inside

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