IPR

There is a need to incentivise R&D investments, offer corporate tax concessions and establish an effective intellectual property rights regime in order to push the growth of domestic pharmaceutical industry, as per the industry bodies. Outlining the sector's wish list for the upcoming Union Budget, Organisation of Pharmaceutical Producers of India (OPPI) Director General Anil Matai urged the government to explore methods to incentivise R&D investments, such as deductions on R&D expenses, research-linked incentives for MNCs, and corporate tax concessions. The initiatives will help in accelerating R&D and innovation in the sector, he added. "Recognising the high-risk, long-gestation nature of R&D, we suggest extending the scope of section 115BAB of the Income Tax Act, 1961 to companies solely engaged in pharmaceutical research and development and providing a 200 per cent deduction rate on R&D expenditures," Matai said. This would significantly boost the sector's .

Intellectual property rights (IPR) laws, the policy are all being given a certain push as research and development are happening in very big scale in India now because the environment is being made conducive for that purpose, Finance Minister Nirmala Sitharaman said on Saturday. "So, we are trying to make them (IPR laws) as a facilitator, booster, and not certainly a barrier in the process of R&D. We've taken quite a few steps and I singularly thank the prime minister for this particular policy, which after a lot of consultation has come up in 2016," she said. The law is a balance of protection for those who innovate, and the commercial propositions with which patents can be of use for the society, she said at the book launch event of Justice Prathiba M Singh on Patent Law. Sharing details of the law, Sitharaman said, eight different items which have something to do with intellectual property have all been brought together under one umbrella. Everything to do with the policy ...

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External Affairs Minister S Jaishankar on Thursday welcomed the positive stance of US Trade Representative Katherine Tai on issues related to intellectual property rights of COVID-19 vaccines and her support for efficient and robust supply chains. Jaishankar, 66, on Thursday had a meeting with Tai to discuss a wide range of bilateral trade issues. The minister described it as good discussions. "Welcomed her positive stance on IPR issues & support for efficient and robust supply chains," he said in a tweet after the meeting. Early this month, Tai, after consultations with various stakeholders, had announced support to the move of India and South Africa to waive certain IP aspects of COVID-19 vaccines at the World Trade Organization (WTO). This step is likely to help in a big way in the fight against the pandemic. "Our trade, technology and business cooperation are at the core of our strategic partnership. Enhancing them is vital to post-Covid economic recovery," Jaishankar said in .

Intellectual property rights (IPR) on drugs and vaccine formulae give creators an exclusive right over inventions for a certain period of time, and prevent pharmaceutical companies from making it.

ressure on the World Trade Organisation (WTO) is mounting to seriously consider a proposal by India and South Africa for Trade-Related Aspects of Intellectual Property Rights (TRIPS) waiver

To further the objectives of National IPR Policy and become a major player in global innovation, India on Saturday entered into a Memorandum of Understanding (MoU) with Denmark in the field of Intellectual Property (IP) Cooperation.

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A large part of the IPR policy depends on popularising registration of intellectual property

To promote innovation and giving a boost to state economies

European Patent Office President Benoit Battistelli said that intellectual property can be a very efficient way to develop India's economy

Commerce Minister says it qould help create capacities and institutions to further enhance robustness of IPR regime