Counterfeiting Medicines In India: Why Is There A Need For IPR?

Counterfeit Medicines India and piracy is a massive global problem that affects practically every industry sector on the planet. India is no different, with widespread counterfeiting, piracy, and smuggling having serious economic, health, and safety ramifications in the country. Small businesses buy counterfeit technology or equipment, either deliberately or inadvertently, and incur unplanned costs in the form of breakage, business downtime, and unenforceable warranties. When the return on investment of a new product is rendered more unpredictable by unenforced intellectual property rights, foreign investors are hesitant to invest. Individual consumers' health and safety are jeopardized when they are tricked into purchasing faulty vehicle components or unsafe pharmaceuticals.