"A wide swath of U.S. businesses have been targeted by these [Indian] policies. It really seems to be a basic industrial policy of the Indian government right now to build up its own domestic industries, whether it be pharmaceuticals or the technology area or elsewhere. Hopefully, President Obama will be raising these issues and we can reach a solution here," said Jay Taylor, vice president of international affairs at Pharmaceutical Research and Manufacturers of America (PhRMA).
"It's a huge cost to the [drug] companies — over $1 billion per product due to all the failures in the process — and it's intellectual property rights that protect the product," he said. "If India is allowed to get away with these activities, are other, larger trading partners going to seek to emulate India's behavior?"