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India and China as partner of choice for the Western multinational companies in the era of globalisation

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  • Rakhi Rashmi

Abstract

By the Patent Amendment Act 2005, India approved Trade Related Aspect of Intellectual Property Rights (TRIPs) Agreement of the World Trade Organization (WTO) and implemented product patent protection for pharmaceutical and biopharmaceutical products. China, too, at the end of 2002 enacted regulations to strengthen pharmaceutical and biopharmaceutical patents. The change in the patent regimes demand that both these countries biopharmaceutical industries which are basically generic industries to shift from generic manufacturing to novel drug manufacturing. Although due to generic manufacturing base, these countries are able to offer cost-efficient discovery research, testing and manufacturing support to western multinationals. On the other hand, the rising cost and continuous risk involved in drug development process making the western MNCs to head towards Asia for collaboration. The paper explores the best partner of choice between India and China for the multinational companies by analysing the relative strength of the parameter suggested by John Dunning for making the foreign investment.

Suggested Citation

  • Rakhi Rashmi, 2011. "India and China as partner of choice for the Western multinational companies in the era of globalisation," International Journal of Learning and Intellectual Capital, Inderscience Enterprises Ltd, vol. 8(2), pages 128-154.
    • Handle: RePEc:ids:ijlica:v:8:y:2011:i:2:p:128-154
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