Will redouble efforts to extend TRIPS waiver to Covid-19 diagnostics, therapeutics: Goyal

Commerce and industry minister Piyush Goyal on Friday pitched for redoubling of efforts to get a global patent waiver for Covid-19 diagnostics and therapeutics at the World Trade Organization (WTO). At the Voice of Global South Summit, he also said that India is open to enter into preferential trade agreements with interested countries in the South and called for depoliticisation of global supply of essential medicines.

“We shall redouble our efforts at the wto to get the TRIPS waiver extended to Covid-19 diagnostics and therapeutics,” he said.

Last month, WTO members decided to extend the talks to decide on whether the TRIPS Decision adopted in June 2022 at the 12th WTO Ministerial Conference should be extended to Covid-19 diagnostics and therapeutics after missing the December 17 deadline. At present, the waiver is applicable to Covid-19 vaccines only.


The 12th Ministerial Conference decision of the WTO contains a commitment that no later than six months from the date of its adoption —June 17 — members will decide on a possible extension to cover the production and supply of Covid-19 diagnostics and therapeutics.
India, South Africa, and 80 other countries have pitched for a global patent waiver for five years whereas the US, Singapore and China have supported delaying the deadline.

Goyal said that the less developed world and developing countries not only saw vaccine inequity but also an impact on the economy, tourism and other areas.

“We are also faced with other challenges including consequences of geopolitical tensions. Global economic recovery is fragile and weak. Growth rate of global trade has slowed down. A sustainable recovery in this scenario is possible only if we all work together,” he said.

The minister said that there is a need to forge new partnerships and mechanisms so that the voice of the global South is reflected on the decision making table.

Noting that developing countries got severely affected due to supply chain disruptions in the pandemic including severe shortages of food and essential medical products, he said: “The pandemic has shown that we need to work together to build resilient supply chains. There is also a need for depoliticisation of global supply of essential medicines”.

The South-South trade has over the years soared over the years to hit $5.3 trillion in 2021 while the volume of trade among developing countries is now higher than that between developing and developed countries, according to Goyal.

He said that India has a “large market and excellent trade ties” with all countries of the South and would like trade linkages to be further enhanced for mutual benefit of all our countries.

“India is also open to enter into preferential trade agreements with interested countries in the south for tapping the significant trade potential that exists between us,” he said.

However, the minister cautioned: “We should be wary of monopolisation of supply of certain minerals leading to high prices of these critical inputs which make our energy transition very difficult”.