1. Discuss how India's 2005 agreement with the World Trade Organization helped shape the global pharmaceutical industry. What benefits has growth of the industry brought to the country? How has it benefited Western consumers?
2. Using Porter's Diamond of Competitive Advantage, discuss India's competitive advantage in pharmaceuticals. What factors contribute to the country's competitive advantage in the production of pharmaceutical products? What are the implications of India's competitive advantage for workers in the United States?
3. Reflect on the restrictions that limited Indian firms from exporting to developed nations prior to 2005. In your opinion, were these restrictions fair? Who were they designed to protect?
1) It appears that India's 2005 agreement with the World Trade Organization helped to shape the global pharmaceutical industry, due to the fact that the requirement for Indian pharmaceutical companies to have a license from pharmaceutical patent holders in order to produce and or market those pharmaceutical products has essentially kept decisions regarding pharmaceutical development and production in Western pharmaceutical companies hands. The growth of this industry has brought the benefit of increased prosperity to India, largely ...