US lens on India's IPR Regime
USTR is assessing India’s intellectual property & patents regime. Depending on the outcome of assessment, in worst-case scenario India could face trade sanctions from US.
Depending on the outcome of the assessment, in the worst-case scenario India could face trade sanctions from the United States. ET explains the review:
Why is India’s status being reviewed?
- US industry lobbies recommended USTR to designate India as “Priority Foreign Country” in its 2014 Special 301 report. - Final decision to come by April.
What is a compulsory licence?
It is one of the flexibilities on patent protection included in the WTO’s agreement on intellectual property — the TRIPS (Trade-Related Aspects of Intellectual Property Rights) Agreement.
Under the Indian Patents Act, CL can be issued if it can be proven that drugs made by patent holders are too costly and out of reach of people who need them.
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