India asks US to tighten IPR rules
Concerned over attempts to monopolise its traditional knowledge, India on Tuesday asked the United States to tighten its Intellectual Property Rights (IPR) regime.
By PTI |
NEW DELHI: Concerned over attempts to monopolise its traditional knowledge, India on Tuesday asked the United States to tighten its Intellectual Property Rights (IPR) regime and put in place proper disclosure norms for companies filing for patents.
"The US needs to take a re-look in its IPR rules and put in place proper disclosure norms," Department of Industrial Policy and Promotion Secretary Ajay Dua said here at a luncheon meeting with US Under Secretary for International Trade Franklin L Lavin.
Dua said India's traditional system of knowledge is under threat because US companies do not sufficiently disclose their sources.
"Companies which are not even concerned with certain areas get patents," he said, adding "India is concerned because we have also become generator of patents".
Talking about US's request to further open up India's financial sector, Dua said it was infact the US which was not allowing entry to Indian banks. "There are a number of US banks in India," he said.
State Bank of India and Bank of Baroda have been trying to open offices in the US but necessary approvals are yet to be given by the authorities there.
Dua also said that the Government has decided to bring down the minimum time limit to issue product patents to six months. Existing rules allow the Government up to three years to take a decision on patent applications.
"The new rules will be notified within a day or two," Dua said.
"There is scope to further bring it (time limit) down, which we will undertake in our next review meeting," he added.
Dua said the Government will invest Rs 130 crore for patent office modernisation and to set up a IP staff training institute in Nagpur and a IP management indtsitute in Delhi.
Meanwhile, the US Under Secretary for International Trade Lavin asked India to further liberalise its Foreign Direct Investment norms and address issues related to intellectual property rights to attract American investments.
"A vibrant IPR regime is critical to the promotion of a creative, technologically advanced (Indian) economy," he said.
Lavin said that the US has decided to post its representative in India to facilitate the process of creating a world-class IPR regime in the country.
"The US needs to take a re-look in its IPR rules and put in place proper disclosure norms," Department of Industrial Policy and Promotion Secretary Ajay Dua said here at a luncheon meeting with US Under Secretary for International Trade Franklin L Lavin.
Dua said India's traditional system of knowledge is under threat because US companies do not sufficiently disclose their sources.
"Companies which are not even concerned with certain areas get patents," he said, adding "India is concerned because we have also become generator of patents".
Talking about US's request to further open up India's financial sector, Dua said it was infact the US which was not allowing entry to Indian banks. "There are a number of US banks in India," he said.
State Bank of India and Bank of Baroda have been trying to open offices in the US but necessary approvals are yet to be given by the authorities there.
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Dua also said that the Government has decided to bring down the minimum time limit to issue product patents to six months. Existing rules allow the Government up to three years to take a decision on patent applications.
"The new rules will be notified within a day or two," Dua said.
"There is scope to further bring it (time limit) down, which we will undertake in our next review meeting," he added.
Dua said the Government will invest Rs 130 crore for patent office modernisation and to set up a IP staff training institute in Nagpur and a IP management indtsitute in Delhi.
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Meanwhile, the US Under Secretary for International Trade Lavin asked India to further liberalise its Foreign Direct Investment norms and address issues related to intellectual property rights to attract American investments.
"A vibrant IPR regime is critical to the promotion of a creative, technologically advanced (Indian) economy," he said.
ADVERTISEMENT
Lavin said that the US has decided to post its representative in India to facilitate the process of creating a world-class IPR regime in the country.
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