India’s accession to the WTO in 1995 brought a new set of challenges for its agriculture. Most of... more India’s accession to the WTO in 1995 brought a new set of challenges for its agriculture. Most of the policies supporting agriculture, especially price support and input subsidies, labelled by the agreement on agriculture (AoA) as domestic support measures, were under the scanner. The price support measure that India uses, namely, the minimum support price (MSP) provided to most of the major crops now faces a problem as the methodology of calculating the extent of subsidies on account of MSP is working against India. Further, the AoA prevents India from using export subsidies since it was not using this instrument in the past. But the agreement allows the advanced countries that were using export subsidies to continue using this instrument, albeit at a lower level. Equally problematic for India is the fact that AoA rules are constraining the implementation of the National Food Security Act, which provides subsidised foodgrains to the disadvantaged sections. JEL codes: F13, Q17, Q18
In 2009, the European Union (EU) proposed to use border carbon measures, which could take the for... more In 2009, the European Union (EU) proposed to use border carbon measures, which could take the form of a direct or indirect "carbon tax", against imports from its partner countries that were not following its emission norms. While the stated objective of the proposal was to prevent "carbon leakage", or migration of industries to the so-called "pollution havens", its real intent is to protect industries based in the territories of the EU Member States against foreign competition. The proposal could have wide ramifications for it could affect market access possibilities of a very large segment of the industries in the EU's partner countries. This paper analyses the possible impact of the proposed measures on India's exports through a very detailed examination of the available data. Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 447 Organic chemicals 340 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 270 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes 181 Iron and steel 164 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 162 Cotton 127 Articles of apparel and clothing accessories, not knitted or crocheted 119 Articles of apparel and clothing accessories, knitted or crocheted 116 Man-made staple fibres 113 Articles of iron or steel 82 Salt; sulphur; earths and stone; plastering materials, lime and cement 71 Paper and paperboard; articles of paper pulp, of paper or of paperboard 71 Man-made filaments 67 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 66 Plastics and articles thereof 58 Copper and articles thereof 58 Other made up textile articles; sets; worn clothing and worn textile articles; rags 56 Annexure III continued... Fish and crustaceans, molluscs and other aquatic invertebrates 91 Clocks and watches and parts thereof 70 Glass and glassware 81 Other base metals; cermets; articles thereof
The economic reforms of 1991 drastically transformed India’s approach toward foreign direct inves... more The economic reforms of 1991 drastically transformed India’s approach toward foreign direct investment (FDI). The focus has been on attracting increasingly large amounts of FDI. There were no regulations on mergers and acquisitions for two decades, and when they were finally introduced in 2011 under the Competition Act, 2002, they were rendered ineffective by setting high thresholds, providing exemptions, and by narrowly focusing on competition. As a result, major domestic companies as also emerging leaders were taken over. Many foreign companies gained strong hold in the economy without adding capacities. The domestic private corporate sector lagged far behind in various respects. Belying the expectations of the policy makers, it invested far too inadequately in research and development. This article argues that India should not continue its reliance on FDI to achieve the goal of creating an internationally competitive manufacturing sector. India should do more than establishing an...
The findings/views/opinions expressed in this book are solely those of the authors and do not nec... more The findings/views/opinions expressed in this book are solely those of the authors and do not necessarily reflect the views of the publisher. Whilst every effort has been made to ensure that the information contained in this publication is correct, the authors and the publisher disclaim all liability arising out of any error or omission. Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.
Liberalizing Financial Services and Foreign Direct Investment, 2011
Capital is considered a vital determinant of economic growth. It enables countries to expand thei... more Capital is considered a vital determinant of economic growth. It enables countries to expand their productive capacity beyond their given production possibilities. Some argue that the dynamic effects of capital are superior to those of other factors of production, such as labour or technology. Indeed, capital may determine the availability of other factors, since it can be used to finance their acquisition. This dual function has given capital a primary role in fostering economic development.
This paper highlights some of the provisions in India's Bilateral Investment Promotion and Pr... more This paper highlights some of the provisions in India's Bilateral Investment Promotion and Protection Agreements that have enabled foreign investors to win cases before international arbitration tribunals. Warning that these disputes with foreign investors signal the emerging struggle between foreign investors and sovereign states in the face of uncertain economic prospects in the post-crisis world, the paper makes a strong case for a review of India's BIPAs so that there is consistency in provisions across all such agreements in the national interest.
this chapter reviews traditional arguments for trade liberalization and provides a closer look at... more this chapter reviews traditional arguments for trade liberalization and provides a closer look at the additional reasons for use of government intervention.
The Dunkel draft on TRIPS is heavily biased in favour of the patentees. While their rights have b... more The Dunkel draft on TRIPS is heavily biased in favour of the patentees. While their rights have been enlarged, their obligations have been considerably watered down. This marks a reversal of the spirit of the 70s when the issue in international negotiations was how to ...
Biotechnology and Development Monitor, Jun 1, 1995
Indian agriculture stands at a crossroads today as the government prepares to bring forth legisla... more Indian agriculture stands at a crossroads today as the government prepares to bring forth legislation on plant breeders' rights (PBR). By introducing PBR, India would fulfil commitments made under GATT and accommodate the demands of the private seed industry. India is the first country that tries to give the concept of Farmers' rights a legal footing in PBR legislation. Despite the attempts by the Indian legislators to strike a balance between interests of farmers and private breeders, the PBR bill is challenged by both.
Innovation, Economic Development, and Intellectual Property in India and China, 2019
India's generic pharmaceutical producers face numerous challenges after the country's patent law ... more India's generic pharmaceutical producers face numerous challenges after the country's patent law was amended to make it compatible with the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Two amendments were significant: introduction of product patent regime covering the area of pharmaceuticals, replacing the process patent regime existing earlier, and increase in patent term for pharmaceutical patents to 20 years, from the earlier 5-7 years (5 years from sealing of patent or 7 years from the date of application, whichever was lower). India's pre-TRIPS patent regime that did not allow product patents in the pharmaceutical sector provided the impetus for the emergence of a generic pharmaceutical industry from the 1980s. How did the Indian pharmaceutical industry respond to the challenges posed by the TRIPS-consistent patent regime, in particular the product patent regime? This paper analysed a number of functional parameters to answer this question. Analysis of the parameters explaining the size and the operational strengths of the major companies in the industry did not suggest structural weaknesses in the generic companies. They continued to remain the leaders in the industry, both in terms of invested capital and size of operations. They remained viable: their profit rates were higher than those in most major manufacturing sectors in India. Although the major generic companies are all producers of generic medicines, they continued to invest sizeable shares of their sales turnover in research and development (R&D). They have been active in taking patents, but their filings in foreign jurisdictions were significantly higher.
Four months after it took office in May 2014, The National Democratic Alliance (NDA) government u... more Four months after it took office in May 2014, The National Democratic Alliance (NDA) government unveiled the "Make in India" as its first major programme for transforming the Indian economy. The primary goal of this initiative was to make India into a global manufacturing hub, which was to be achieved by increasing the share of manufacturing in the country's GDP to 25 per cent in 2025, or by about 10 percentage points. In order to lend a better focus, the government identified 25 sectors. Interestingly, 13 of these are in the manufacturing sector 1 , while the rest belong to the services and infrastructure. 2 Although the statement of intent of "Make in India" (MII) speaks of encouraging both "multinational as well as domestic companies to manufacture their products within the country", liberalisation of foreign direct investment (FDI)
The capacity of countries to take advantage of the patent system bears a relationship with their ... more The capacity of countries to take advantage of the patent system bears a relationship with their stage of development. This paper explores the relationship between economic development and domestic and foreign patenting behaviour. The study uses a unique data set covering 55 countries and 24 years. It determines the association of domestic patenting with gross domestic product per capita and openness • to trade, and the association of foreign patenting with these variables and with foreign direct investment as a
India’s accession to the WTO in 1995 brought a new set of challenges for its agriculture. Most of... more India’s accession to the WTO in 1995 brought a new set of challenges for its agriculture. Most of the policies supporting agriculture, especially price support and input subsidies, labelled by the agreement on agriculture (AoA) as domestic support measures, were under the scanner. The price support measure that India uses, namely, the minimum support price (MSP) provided to most of the major crops now faces a problem as the methodology of calculating the extent of subsidies on account of MSP is working against India. Further, the AoA prevents India from using export subsidies since it was not using this instrument in the past. But the agreement allows the advanced countries that were using export subsidies to continue using this instrument, albeit at a lower level. Equally problematic for India is the fact that AoA rules are constraining the implementation of the National Food Security Act, which provides subsidised foodgrains to the disadvantaged sections. JEL codes: F13, Q17, Q18
In 2009, the European Union (EU) proposed to use border carbon measures, which could take the for... more In 2009, the European Union (EU) proposed to use border carbon measures, which could take the form of a direct or indirect "carbon tax", against imports from its partner countries that were not following its emission norms. While the stated objective of the proposal was to prevent "carbon leakage", or migration of industries to the so-called "pollution havens", its real intent is to protect industries based in the territories of the EU Member States against foreign competition. The proposal could have wide ramifications for it could affect market access possibilities of a very large segment of the industries in the EU's partner countries. This paper analyses the possible impact of the proposed measures on India's exports through a very detailed examination of the available data. Nuclear reactors, boilers, machinery and mechanical appliances; parts thereof 447 Organic chemicals 340 Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 270 Inorganic chemicals; organic or inorganic compounds of precious metals, of rare-earth metals, of radioactive elements or of isotopes 181 Iron and steel 164 Optical, photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories thereof 162 Cotton 127 Articles of apparel and clothing accessories, not knitted or crocheted 119 Articles of apparel and clothing accessories, knitted or crocheted 116 Man-made staple fibres 113 Articles of iron or steel 82 Salt; sulphur; earths and stone; plastering materials, lime and cement 71 Paper and paperboard; articles of paper pulp, of paper or of paperboard 71 Man-made filaments 67 Tools, implements, cutlery, spoons and forks, of base metal; parts thereof of base metal 66 Plastics and articles thereof 58 Copper and articles thereof 58 Other made up textile articles; sets; worn clothing and worn textile articles; rags 56 Annexure III continued... Fish and crustaceans, molluscs and other aquatic invertebrates 91 Clocks and watches and parts thereof 70 Glass and glassware 81 Other base metals; cermets; articles thereof
The economic reforms of 1991 drastically transformed India’s approach toward foreign direct inves... more The economic reforms of 1991 drastically transformed India’s approach toward foreign direct investment (FDI). The focus has been on attracting increasingly large amounts of FDI. There were no regulations on mergers and acquisitions for two decades, and when they were finally introduced in 2011 under the Competition Act, 2002, they were rendered ineffective by setting high thresholds, providing exemptions, and by narrowly focusing on competition. As a result, major domestic companies as also emerging leaders were taken over. Many foreign companies gained strong hold in the economy without adding capacities. The domestic private corporate sector lagged far behind in various respects. Belying the expectations of the policy makers, it invested far too inadequately in research and development. This article argues that India should not continue its reliance on FDI to achieve the goal of creating an internationally competitive manufacturing sector. India should do more than establishing an...
The findings/views/opinions expressed in this book are solely those of the authors and do not nec... more The findings/views/opinions expressed in this book are solely those of the authors and do not necessarily reflect the views of the publisher. Whilst every effort has been made to ensure that the information contained in this publication is correct, the authors and the publisher disclaim all liability arising out of any error or omission. Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.
Liberalizing Financial Services and Foreign Direct Investment, 2011
Capital is considered a vital determinant of economic growth. It enables countries to expand thei... more Capital is considered a vital determinant of economic growth. It enables countries to expand their productive capacity beyond their given production possibilities. Some argue that the dynamic effects of capital are superior to those of other factors of production, such as labour or technology. Indeed, capital may determine the availability of other factors, since it can be used to finance their acquisition. This dual function has given capital a primary role in fostering economic development.
This paper highlights some of the provisions in India's Bilateral Investment Promotion and Pr... more This paper highlights some of the provisions in India's Bilateral Investment Promotion and Protection Agreements that have enabled foreign investors to win cases before international arbitration tribunals. Warning that these disputes with foreign investors signal the emerging struggle between foreign investors and sovereign states in the face of uncertain economic prospects in the post-crisis world, the paper makes a strong case for a review of India's BIPAs so that there is consistency in provisions across all such agreements in the national interest.
this chapter reviews traditional arguments for trade liberalization and provides a closer look at... more this chapter reviews traditional arguments for trade liberalization and provides a closer look at the additional reasons for use of government intervention.
The Dunkel draft on TRIPS is heavily biased in favour of the patentees. While their rights have b... more The Dunkel draft on TRIPS is heavily biased in favour of the patentees. While their rights have been enlarged, their obligations have been considerably watered down. This marks a reversal of the spirit of the 70s when the issue in international negotiations was how to ...
Biotechnology and Development Monitor, Jun 1, 1995
Indian agriculture stands at a crossroads today as the government prepares to bring forth legisla... more Indian agriculture stands at a crossroads today as the government prepares to bring forth legislation on plant breeders' rights (PBR). By introducing PBR, India would fulfil commitments made under GATT and accommodate the demands of the private seed industry. India is the first country that tries to give the concept of Farmers' rights a legal footing in PBR legislation. Despite the attempts by the Indian legislators to strike a balance between interests of farmers and private breeders, the PBR bill is challenged by both.
Innovation, Economic Development, and Intellectual Property in India and China, 2019
India's generic pharmaceutical producers face numerous challenges after the country's patent law ... more India's generic pharmaceutical producers face numerous challenges after the country's patent law was amended to make it compatible with the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). Two amendments were significant: introduction of product patent regime covering the area of pharmaceuticals, replacing the process patent regime existing earlier, and increase in patent term for pharmaceutical patents to 20 years, from the earlier 5-7 years (5 years from sealing of patent or 7 years from the date of application, whichever was lower). India's pre-TRIPS patent regime that did not allow product patents in the pharmaceutical sector provided the impetus for the emergence of a generic pharmaceutical industry from the 1980s. How did the Indian pharmaceutical industry respond to the challenges posed by the TRIPS-consistent patent regime, in particular the product patent regime? This paper analysed a number of functional parameters to answer this question. Analysis of the parameters explaining the size and the operational strengths of the major companies in the industry did not suggest structural weaknesses in the generic companies. They continued to remain the leaders in the industry, both in terms of invested capital and size of operations. They remained viable: their profit rates were higher than those in most major manufacturing sectors in India. Although the major generic companies are all producers of generic medicines, they continued to invest sizeable shares of their sales turnover in research and development (R&D). They have been active in taking patents, but their filings in foreign jurisdictions were significantly higher.
Four months after it took office in May 2014, The National Democratic Alliance (NDA) government u... more Four months after it took office in May 2014, The National Democratic Alliance (NDA) government unveiled the "Make in India" as its first major programme for transforming the Indian economy. The primary goal of this initiative was to make India into a global manufacturing hub, which was to be achieved by increasing the share of manufacturing in the country's GDP to 25 per cent in 2025, or by about 10 percentage points. In order to lend a better focus, the government identified 25 sectors. Interestingly, 13 of these are in the manufacturing sector 1 , while the rest belong to the services and infrastructure. 2 Although the statement of intent of "Make in India" (MII) speaks of encouraging both "multinational as well as domestic companies to manufacture their products within the country", liberalisation of foreign direct investment (FDI)
The capacity of countries to take advantage of the patent system bears a relationship with their ... more The capacity of countries to take advantage of the patent system bears a relationship with their stage of development. This paper explores the relationship between economic development and domestic and foreign patenting behaviour. The study uses a unique data set covering 55 countries and 24 years. It determines the association of domestic patenting with gross domestic product per capita and openness • to trade, and the association of foreign patenting with these variables and with foreign direct investment as a
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