The pharmaceutical industry in India, with its rich scientific talent pool, low costs of production, research and development (R&D), and an increasing balance of trade and research capabilities, supported by an intellectual property protection regime, is well set to take on the international market.
India is increasingly becoming a major destination for manufacturing activities, clinical trials, R&D, and the outsourcing of pharmaceutical processes. The progressive trend in this sector started with the signing of the General Agreement on Tariffs and Trade (GATT) in January 2005.
The Patents (Amendment) Act, 2005, allows the patenting of products in the areas of food, drugs and chemicals which were not covered earlier. The act, which provides for stricter protection for intellectual property rights (IPR), bodes well for the future growth and development of the pharmaceutical industry.
You must be a subscribersubscribersubscribersubscriber to read this content, please subscribesubscribesubscribesubscribe today.
For group subscribers, please click here to access.
Interested in group subscription? Please contact us.
Ravi Singhania is the managing partner of Singhania & Partners. The firm is headquartered in Noida and has offices in Mumbai, Bangalore and Hyderabad.
H-186, Sector 63
Noida, 201 301 (NCR of Delhi)
Tel: +91 (120) 463 1000
Fax: +91 (120) 463 1001