Strong IPR regime can only entice companies to invest in India: Swiss minister

Expressing concern over India’s IPR (intellectual property rights) regime, Johann Schneider Ammann, Swiss economic affairs minister, said that without an assurance of a strong IP law, companies would not have the incentive to innovate and invest in India.
 
Speaking at a business interaction with Indian industry representatives, organised by FICCI in New Delhi on May 15, 2015, Ammann said, “Access to quality medication to the poor was among the main challenges faced by India. IPR plays an important role in the development of life-saving drugs and additional efforts were needed from the Indian government to remove the difficulties faced by pharma companies in testing and marketing facilities.”
 
Countering Ammann’s argument, Sidharth Birla, president, FICCI & chairman, Xpro India Ltd, who was also present at the event, said, “India wants free trade but that should be on an equal, reciprocal basis. India’s IPR regime was strong; more robust than China’s. The country was very particular about IP, but was also clear that it should not benefit only one side.”
 
Amman was on a three-day visit to India to discuss ways to deepen bilateral economic cooperation and remove the irritants in the way of a free trade agreement. This is the first visit of a high ranking minister from Switzerland after the Modi Government assumed office a year ago. It may be noted that the negotiations between the European Free Trade Association and India over a free trade agreement are stuck due to IPR issues but the Swiss government is hopeful that talks could soon resume.
 
Switzerland is a major foreign investor in India and has invested about $ 2.7 billion in diverse fields during April 2000-March 2014 period.
 
On May 16, 2015, Ammann also officially launched the CTI Market Entry Camps, an initiative of the Commission for Technology and Innovation (CTI) run by Swissnex India, aimed at encouraging Swiss start-ups to enter the Indian market.