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India Has A Balanced Approach To Intellectual Property Rights in Trade Deals: GTRI

Updated: Feb 16, 2024 05:31:16pm

India Has A Balanced Approach To Intellectual Property Rights in Trade Deals: GTRI

New Delhi, Feb 16 (KNN) In proposed trade agreements, India's stance on intellectual property rights (IPRs) and pharmaceutical issues strikes a balance between fostering innovation and addressing public health needs, according to a report by the Global Trade Research Initiative (GTRI).

This approach ensures the availability of affordable medicines and supports the growth of the generic medicine industry.

The GTRI paper highlights India's commitment to balancing innovation with public health needs, adopting a flexible interpretation of Trade-Related Aspects of Intellectual Property Rights (TRIPS) to align with its developmental goals, and preventing the establishment of unfair monopolies, especially in the pharmaceutical sector.

India's position underscores a broader endeavor to safeguard traditional knowledge and guarantee access to cost-effective medications, addressing substantial global healthcare and IPR challenges.

The significance of this issue is emphasized by the consistent pressure exerted by developed nations on developing countries like India.

They aim to make additional commitments regarding IPR matters in FTAs beyond those agreed upon in the TRIPS Agreement of the World Trade Organization (WTO).

This phenomenon is commonly referred to as "TRIPS-plus" in trade terminology.

Ajay Srivastava, Founder, GTRI, affirmed India's stance, stating that it reflects the country's commitment to balancing interests and fostering economic ties through trade agreements.

India has consistently opposed TRIPS-plus provisions, safeguarding the interests of its domestic generic drug industry in FTAs.

(KNN Bureau)


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