The Government of India has proclaimed that it will shortly reveal the nation’s first Intellectual Property Rights (IPR) policy. The step is certainly in response to the concerns often expressed by the US and EU countries over insufficiency of the Indian Patent Act. The yearly analysis of the global state of IPR safety and enforcement – Special 301 Report revealed out by the US, the leading IPR interest holder, has placed our nation in a “priority watch list country”. It appears evidently a menace to demote India’s IP atmosphere.
A number of American companies, mainly in the pharmaceutical sector, are criticising Indian laws but India has been defying efforts at infringement of copyright and commercial mistreat of its indigenous awareness. India resists the independent action preferential by the US, and upheld that the nation’s situation is in traditionalism with the necessities of Trade Related Aspects of Intellectual Property Rights commonly known as TRIPS.
During Prime Minister Narendra Modi’s recent US tour, both the leaders of Indo-US took a decision to establish a sophisticated Working Group with selecting authority and also technical groups as part of the Trade Policy Forum. There are also a few exigencies to explain the IPR policy of the Government as some sectors are attracting FDI. Last month, the Commerce and Industry Ministry too has formed a think-tank to draft the policy to recommend the Government on the most appropriate practices to be assumed in the IPR. The policy, it is believed, will also look after a system of proficient and transparent functioning of offices coping with IPR. Whatever glitches appeared in present legislations is likely to be ironed out.
BJP’s election manifesto in 2014 has assured to “embark on the path of IPRs and patents in a big way”. A nationwide network of specific institutions to promote inventions with protection of intellectual property and courts to resolve strife were promised. The main reason of an IPR policy in any nation is to encourage study and creations and their utilization in practice. It is a plan to guarantee ownership for improvements and protect theft of intellectual output. Intellectual properties enveloped in TRIPS are of many kinds such as copyrights, industrial designs, trade marks, new plant varieties, bio-tech inventions, ecological or biological locations, trade secrets and et al.
India is evolving as a knowledge and information hub. The nation’s flair to obtain and apply these intangible assets to transform them as wealth and goods relies on our skill to preserve our knowledge. Globalization has improved the significance of protecting IPR. Equally, average writers, poets and musicians repeatedly face theft of their unprotected creations. Lessons in IPR is essential to protect offences and prevent victims.
Many recommend including lessons of IPR in schools as part of prospectus and conducting consciousness crusades for stakeholders, authors, users and enforcement agencies. Creativity and innovations are fundamental capital in this modern world with land, labour and financial capital tinted by the conservative economists. They have to be protected against infringement in the interest of growth and development.