Articles by Pradeep Agrawal

This paper attempts to evaluate the implications of China's accession to the WTO in terms of its impact on the country's exports, imports and foreign investment inflows, and also discusses the likely effect of these developments for the Indian economy. The paper argues that in case of China, the changes consequent to accession to WTO will see an increase in economic activity, leading to a higher GDP growth rate. For India, the Chinese challenge can be met only if we strengthen the competitiveness of our economy further by undertaking additional reforms and improving infrastructure.

Major changes can be expected in the Indian pharmaceuticals industry from 2005 due to the agreement on TRIPS, under which India will be required to introduce product patents for pharmaceutical products. This will likely lead to sharp increases in the prices of newly patented drugs. Although the TRIPS agreement may also lead to increased research on diseases common in developing countries, these benefits can be obtained in alternative ways, and without high costs. Thus, the TRIPS agreement is not in the national interest and should be renegotiated.