Washington: The US business community has hoped that the much-anticipated intellectual property rights (IPR) policy of India contains a principled commitment to the legal rights of patent, copyright, and trademark holders.
“On behalf of the US business community that is invested in India’s success, it is our hope that the much-anticipated IPR policy contains a principled commitment to the legal rights of patent, copyright, and trademark holders,” Patrick Kilbride, executive director, US Chambers of Commerce’s Global Intellectual Property Center, said in a statement yesterday.
“A strong intellectual property system has a fundamental role to play in growing India’s innovative industry, fostering India’s global economic competitiveness, and attracting greater foreign investment – key goals of the ‘Make in India’ campaign,” he said.
Under the current administration, political attitudes toward IP seem to have improved, Kilbride said.
“For instance, the previous bias toward the use of compulsory licenses as a commercial tool appears to be much diminished,” he added.
“Likewise, recent moves confirming the scope of patentability for computer related inventions suggest that the linkage between intellectual property and innovative output is becoming more widely recognised and will provide the necessary incentive for increased R&D investment in the IT sector,” he said.
“We welcome these developments, and look to the upcoming visit of Prime Minister Narendra Modi to the US as an opportunity to deepen the relationships between US and Indian innovators and government officials toward the end of catalysing an innovation renaissance in both our countries,” Kilbride said.
The comment from the US industry came as the Indian Government readies an improved IPR policy before the US visit of the Modi.
Earlier this month the Union Commerce and Industry Minister Nirmala Sitharaman said the new IPR policy “will ensure Indian patents are protected, Indian designs are protected, Indian copyrights are taken care of”.
The new IPR policy is yet to be approved by the Cabinet.