THE EFFECT OF TRIPS ON INDIAN PHARMACEUTICAL INDUSTRY
Author(s):
Dhanya.A
Keywords:
TRIPS, Patent, WTO, Pharmaceutical Industry, Issues and Opportunities
Abstract
The Treaty on Trade-Related Aspects of Intellectual Property Rights (TRIPS) was enacted with the goal of unifying intellectual property rights norms and putting developing countries on an equal footing with rich countries. A few factors, such as scientific progress, fresh breakthroughs in biotechnology, the rising inclusion of the private sector in cost-intensive research and development in the knowledge-based pharmaceutical sector, and the overall power demonstrated by developing countries in adjusting the results of scientific innovations to the local environment, have all contributed to this trend. have pushed developed countries to seek tighter protection for their technologies across the board (1). Because of the quality and cost-effectiveness of its products, the Indian medicines industry is now well-known around the world. It is currently one of the fastest-growing industries in the world, contributing 2.4 percent in terms of value and 10% in terms of volume. India alone is responsible for 20% of worldwide generics exports. The Indian pharmaceutical sector exported USD24.44 billion in 2021 and is predicted to hit USD65 billion by 2024.
Article Details
Unique Paper ID: 153205

Publication Volume & Issue: Volume 8, Issue 6

Page(s): 145 - 151
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