Article Details
  • Published Online:
    April  2025
  • Product Name:
    The IUP Journal of Applied Economics
  • Product Type:
    Article
  • Product Code:
    IJAE040225
  • DOI:
    10.71329/IUPJAE/2025.24.2.83-92
  • Author Name:
    Md Harish
  • Availability:
    YES
  • Subject/Domain:
    Economics
  • Download Format:
    PDF
  • Pages:
    83-92
Volume 24, Issue 2, April 2025
Key Drivers of Innovation in the Indian Pharmaceutical Industry
Abstract

Introduction

Innovation and technological activities have been recognized as a major source of growth and have been prioritized with greater attention in academia and public policy in recent times (NKC Report, 2007).1 The advantage of innovation has become a critical ingredient to achieve higher growth rates (Howittt & Aghion, 1998; Romer, 1994; Solow, 1956). The National Innovation Council of Government of India designated 2010-2020 as the decade of innovation and launched the Make in India initiative in 2014 to boost manufacturing innovation. Over the past two decades, India aligned its patent policies with the Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement through key amendments