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Rise of India's Medication Industry

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Several years ago, India's pharmaceutical market was struggling with number of intercontinental trade limitations due to their breach of perceptive property legal rights. The Indian companies utilized to copy patents of drugs made by Western countries and Japan with no responsibility to real estate rights. This could discourage international investors via investing in India's drug industry. India was only good for making generic company drugs since the patents for all those drugs were already ended. However , the problem has changed dramatically in recent years as a result of rising demand for international trade. Especially, while using induction of India in WTO in 2005, right now there came the appreciation and protection for property legal rights. India ended making these counterfeit prescription drugs. The fact that India is a member of WTO has eased the road for foreign investors to begin investing into India's various industries which include drug sector. Due to movement of purchases and Western cooperation, India's pharmaceutical sector has seen unprecedented progress since 2005. According to the circumstance, by 2011, the sector reached $11. 5 billion dollars. There are volume of factors that have contributed to this extraordinary growth in the drug market. The initial celebration that started the growth was India's agreement with WTO which provided protection to intellectual property rights and assurance to international shareholders. Also, there are lots of internal factors within India which have successfully contributed to the growth of the sector. Similar to China and tiawan, India provides comparative advantage in manufacturing and packaging which will encouraged European companies to outsource in India. The comparative advantage has become gained because of abundance of educated employees, low salary rates as well as the wide spread use of English like a business vocabulary. This latter factor, the wide usage of English language is one of the major causes why American companies selected India above China. Pertaining to foreign investors, it is easier to conduct...

30.08.2019

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