IPR figures in FICCI's discussion with US companies in India
Updated: Apr 15, 2014 12:41:29pm
New Delhi, Apr 15 (KNN) In the backdrop of a downward spiral in US-India bilateral relations during the last few months, compounded with negative sentiments on commercial issues, representatives of the industry met with top CEOs of US companies to discuss issues pertaining to IPR and taxation among others.
“In an effort provide an agenda to the new Indian government on resolution of many of these thorny issues in the commercial space, FICCI leadership met with the top CEOs of US companies based in India,” said an FICCI (Federation of Indian Chambers of Commerce and Industry) release.
The meeting on April-14 with the American companies under aegis of AMCHAM (American Chamber of Commerce in India) included GE, which is one of the iconic US companies in India since 1902. The other US majors included United Technologies Corporation, E.I. Dupont, Lockheed Martin, Honeywell International, Boston Scientific, Boeing and Deloitte.
Speaking on the occasion Secretary General, FICCI, A Didar Singh, highlighted the importance of Indian and Multinational companies to work together to push forward the commercial relations between our countries.
“There is a greater need to consolidate divergent positions as there are regulatory issues faced by both US MNC's in India and Indian companies in the US,” he said.
Singh acknowledged the need to find pragmatic solutions to issues such as IPR, taxation and transfer pricing but also emphasised that the regulations are not unilateral executive decisions but are backed through judicial process under the ambit of WTO and TRIPS regime.
This was especially so in the context of USTR investigations in United States against India to declare India as a “Priority Foreign Country” for IPR violations against US companies doing business in India, he said.
During the discussions issues such as Immigration Bill also came up, which bother the Indian IT industry and could eventually impact the cost efficiency of US industry in the long run.
On the other hand, Chair, FICCI IPR Committee, Narendra Sabharwal, reiterated the FICCI view on the allegations raised during United States Trade Representatives (USTR).
"India is not only importer of patented products and technology but itself has interest in a strong IPR regime due to patents being generated by its IT, Science and Technology and Telecom industry. India is also continuously placing a lot of emphasis on training in this field and perhaps US and India should jointly expand the scope of this capacity building exercise," Sabharwal said. (KNN/ES)
“In an effort provide an agenda to the new Indian government on resolution of many of these thorny issues in the commercial space, FICCI leadership met with the top CEOs of US companies based in India,” said an FICCI (Federation of Indian Chambers of Commerce and Industry) release.
The meeting on April-14 with the American companies under aegis of AMCHAM (American Chamber of Commerce in India) included GE, which is one of the iconic US companies in India since 1902. The other US majors included United Technologies Corporation, E.I. Dupont, Lockheed Martin, Honeywell International, Boston Scientific, Boeing and Deloitte.
Speaking on the occasion Secretary General, FICCI, A Didar Singh, highlighted the importance of Indian and Multinational companies to work together to push forward the commercial relations between our countries.
“There is a greater need to consolidate divergent positions as there are regulatory issues faced by both US MNC's in India and Indian companies in the US,” he said.
Singh acknowledged the need to find pragmatic solutions to issues such as IPR, taxation and transfer pricing but also emphasised that the regulations are not unilateral executive decisions but are backed through judicial process under the ambit of WTO and TRIPS regime.
This was especially so in the context of USTR investigations in United States against India to declare India as a “Priority Foreign Country” for IPR violations against US companies doing business in India, he said.
During the discussions issues such as Immigration Bill also came up, which bother the Indian IT industry and could eventually impact the cost efficiency of US industry in the long run.
On the other hand, Chair, FICCI IPR Committee, Narendra Sabharwal, reiterated the FICCI view on the allegations raised during United States Trade Representatives (USTR).
"India is not only importer of patented products and technology but itself has interest in a strong IPR regime due to patents being generated by its IT, Science and Technology and Telecom industry. India is also continuously placing a lot of emphasis on training in this field and perhaps US and India should jointly expand the scope of this capacity building exercise," Sabharwal said. (KNN/ES)
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