Trends and patterns of india's high technology exports with special reference to pharmaceutical products
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Date
2014
Authors
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Journal ISSN
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Publisher
Central University of Punjab
Abstract
Diversification of a country's exports plays an important role in the economic
growth of the developing countries. These countries are trying to increase its exports
by exporting high technology products and improve their ranking in the world trade.
India is no exception to this. The present study is an attempt to examine the
competitiveness of pharmaceutical exports in India's high technology exports, which
is the largest sector amongst high technology commodities, with the US and Russian
Federation by calculating different indices like Revealed Comparative Advantage
(RCA), Revealed Symmetric Comparative Advantage (RSCA) and Intra Industry
Trade (IIT) during 1991-2012. An attempt is also made to study some of the important
issues of TRIPS related to India's pharmaceutical exports. An extensive research
effort has been made to comprehend the composition and direction of India's
Pharmaceutical exports with its top two export partners i.e. US and Russia using
these indices. The empirical result of the study revealed that India has revealed
comparative advantage in maximum pharmaceutical products with these two
countries. The policy of the country regarding the international trade has under gone
various changes since liberalization, as a result of the emergence of Trade Related
Intellectual Property Rights (TRIPS). Further, the result of the study also explained
that TRIPS has a positive impact on India's pharmaceutical exports. The study also
revealed that domestic companies are more R&D oriented than foreign companies.
The positive correlation of R&D expenditure and exports has been found in Indian
Pharmaceutical companies. For India to become a top player in the global
pharmaceutical business, the government of India needs to support foreign
investments in pharmaceuticals sector in order to overcome the stiff competition in
the global pharmaceutical market.
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Keywords
High technology, Patents, Revealed Comparative Advantage, Revealed Symmetry Comparative Advantage, Grubel Lloyd Index, Trade Related Intellectual Property Rights
Citation
Manisha& , kaur, Sandeep (2014) Trends and patterns of india's high technology exports with special reference to pharmaceutical products.