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India’s Incipient Comparative Advantage and Trade Specialization in Pharmaceutical Sector in Comparison to ASEAN

1, 2

  1. 1Symbiosis School of Economics, Symbiosis International University, Pune, INDIA.
  2. 2Mittal School of Business, Lovely Professional University, Jalandhar, Punjab, INDIA.

CORRESPONDENCE

Sumit Oberoi

Symbiosis School of Economics, Symbiosis International University, Pune, INDIA.

profsumitoberoi@gmail.com

Received: 12-06-2021; Accepted: 02-04-2022.

Volume 56, Issue 3 · pp. 899-906 · 2022 · DOI: 10.5530/ijper.56.3.143

ABSTRACT

Introduction: Today the whole world is looking towards the rising role of Asian nations in the world trade. Amid 48 Asian nations, India’s pharmaceutical segment observed a crucial restructuring in mounting income and occupational opportunities. Aim/ Objectives: Therefore, the present study aims at measuring comparative advantage and trade specialization between India and selected ASEAN economies at harmonized standard 4-digit level of product categorization.Materials and Methods: Statistical indexes meticulously assess the secondary data by performing revealed comparative advantage (RCA) index and Lafay index.Results: Outcomes lucidly elucidate that India embraces comparative advantage and trade-specialization for pharmaceutical sectors viz. ‘Bulk Medicines’, ‘Inputs Specific to Pharmaceutical Industry’ and ‘Medical technology equipment”.Conclusion: Thus, the results advocates that industrial progressions, technical innovation, product sophistication and commodity diversification in pharmaceutical sector is a pre-requisite for India to clinch trade superiority.

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    Oberoi, S., & Kansra, P. (2022). India’s Incipient Comparative Advantage and Trade Specialization in Pharmaceutical Sector in Comparison to ASEAN. Indian Journal of Pharmaceutical Education and Research, 56(3), 899-906. https://doi.org/10.5530/ijper.56.3.143

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    © 2022 Author(s)

    This is an open access article distributed under the terms of the Creative Commons Attribution 4.0 License, which permits unrestricted use, distribution and reproduction in any medium, provided the original author and source are credited. CC BY 4.0