 "'TRIPS sets the floor for IP-led innovation'")
The US Chamber looked to the announcement of the final National Intellectual Property Rights Policy as the beginning of a new era, with a re-commitment to a strong intellectual property policy framework. The policy announced takes steps to promote Intellectual Property Rights (IPR) awareness and enhances the administration, management and enforcement of IPR. However, the absence of recommendations for specific legislative reforms is troubling and until addressed, will cost India competitiveness in the areas of high-tech and biopharmaceutical innovation and value-added manufacturing.
The relevant question is not whether India's laws are Trade-Related Aspects of Intellectual Property Rights (TRIPS) compliant or whether India should utilise, or benefit from TRIPS flexibilities. TRIPS merely set the floor for IP-led innovation. Many countries, including India's close neighbours in Southeast Asia, are going beyond these minimum standards to foster an environment conducive to both foreign investment and their own economic growth in high-value added, innovative industries. The challenge facing India is to foster a stable IP and business climate where businesses have sufficient confidence to take the risks necessary to innovate, invest and manufacture.
We would encourage the Indian government to engage with all relevant stakeholders, including the international business community, and prioritise movement on necessary legal reforms. These include passing the Cinematographic Bill to combat camcording, enacting a federal-level trade secret statute, and reviewing provisions of the Copyright Act to effectively address hard goods and online piracy. And, while contentious, India should address the limited scope of patentability for biopharmaceutical and computer-related inventions - both areas where India can leverage core strengths to leave less well-endowed regional competitors behind.
The writer is executive director in US Chamber of Commerce's Global Intellectual Property Center
The relevant question is not whether India's laws are Trade-Related Aspects of Intellectual Property Rights (TRIPS) compliant or whether India should utilise, or benefit from TRIPS flexibilities. TRIPS merely set the floor for IP-led innovation. Many countries, including India's close neighbours in Southeast Asia, are going beyond these minimum standards to foster an environment conducive to both foreign investment and their own economic growth in high-value added, innovative industries. The challenge facing India is to foster a stable IP and business climate where businesses have sufficient confidence to take the risks necessary to innovate, invest and manufacture.
We would encourage the Indian government to engage with all relevant stakeholders, including the international business community, and prioritise movement on necessary legal reforms. These include passing the Cinematographic Bill to combat camcording, enacting a federal-level trade secret statute, and reviewing provisions of the Copyright Act to effectively address hard goods and online piracy. And, while contentious, India should address the limited scope of patentability for biopharmaceutical and computer-related inventions - both areas where India can leverage core strengths to leave less well-endowed regional competitors behind.
The writer is executive director in US Chamber of Commerce's Global Intellectual Property Center