The Rise Of India 's Drug Industry

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The Rise of India’s Drug Industry and The Rise of Bangladesh’s Textile Trade At first, India’s trade industry was one that was known for being an international outcast in the pharmaceutical industry. The counterfeit drugs that they were producing and selling eventually was revealed by the Western and Japanese pharmaceutical companies. Therefore, they were not allowed to sell their products in any developed markets considering that they dishonored intellectual property rights. Intellectual property rights include any patents, copyrights, or trademarks associated with a typical good or invention. The copies of untested products that India caused any other foreign drug company caused any other foreign company to turn the other way. Those companies refused to participate in or partner with any of the Indian’s productions, which really limited business prospects of Indian companies. Furthermore, the only products that India was able to sell in the United States were inexpensive, generic drugs that had expired patents. This caused India to have a lot less profits and business opportunities. International trade is meant to offer consumers and other countries a chance to be exposed to new products worldwide, but considering India’s knockoff pharmaceuticals were unable to be sold they needed to make a change. In 2005, India signed an arrangement with the World Trade Organization, bringing the country into an agreement with any rules on intellectual property. India was
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