WTO and Its Impact on Indian Pharmaceutical Production

Pharmaceutical production plays a significant role in the economic development of a country. It is even more important for developing country like India which needs to generate employment, achieve higher rate of growth, reduction of poverty elevation programs, improve the standard of living of its people and stabilize the price level of healthcare. Role of WTO is very important in production. The WTO was established in 1995 and when compared with the GATT, was much wider in scope, with a stronger institutional basis and with treaty status. The main aim of this paper is to analyze the Indian pharmaceutical production performance, pre and post implementation of WTO policies. It is clear that the implementation of WTO policies, compound annual growth rate (CAGR) of India's pharmaceutical production has minute effect on it.