For every business there are legal, political and ethical issues relating the working of the business. The following are the issues relating to the business with graphs and pictures in India. They are the issues that one faces when opening a business producing pharmaceuticals. Legal issues • One must not be a minor or any person who had been previously been suspended from running out a pharmaceutical business. • There should be production of individual information where sale of counterfeit items is not allowed. Sale of stolen items is also not allowed.
• Long bureaucratic procedures and process to approve the business in India which causes delay in time. One must have a higher administrative support to meet all the sanctions required. • The business must undergo auditing to regulate any breaches on pharmaceutical company’s standards. • High scientific and health standards must be maintained which are set by different regulations must be maintained. Also them that are set by the government as the sales made must be patient focused. • One should act to protect the right of pharmaceutical companies Ethical issues • Practice of any unfair competition and false advertisement is illegal.
This is meant to promote the interest all involved in same business as well s the rights of the customers. • The information publicized should not have any pornographic materials. • The information should contain high level of accuracy and misleading information is highly prohibited. Any involvement on the same the business is suspended. • Use computer viruses or any program that may damage or interfere with any system is not allowed. This is to protect the rights of other users in continuation of the business and also to enhance smooth running of the pharmaceutical companies. Political issues
• The political system of India is pluralistic thus making it difficult to get in to an agreement among the parties for business starting. • Different ideologies by political parties which are against investments which are directly involved in foreign transactions where pharmaceuticals is among these investments.. • One requires high political patronage to receive any merit on local taxes. In India there payment of tariffs is very thus reducing flows in capital. • To start a business therefore in India one needs to have a high political backup. This means that one will need to spend much fund to win any political assistance.
It is therefore evident that to start any business in India it takes much patient which might be a business on its own as without which it might be hard to go through. On the same legal requirements are not exemptions as they are never reduced in any manner. The bureaucratic procedures are another challenge as they take long before the approval. Out of political pressure one ends up spending much than supposed. However there are great opportunities in businesses and especially on pharmaceuticals, (India, P. I. 2002). Reference India, P. I. (2002). Data India. New Delphi: Press Institute of India.