The US Chamber of Commerce has welcomed India's new IPR policy, saying it hopes the move is a "precursor" to the "concrete, structural" changes necessary for implementation of a strong innovation model.
"We hope the announcement is a precursor to the concrete, structural changes that are necessary if India is to implement a strong IP-led innovation model," said Patrick Kilbride, Executive Director of International Intellectual Property of the US Chamber of Commerce's Global Intellectual Property Center (GIPC) yesterday.
His remarks came on a day the Indian government announced a comprehensive National Intellectual Property Rights (IPR) policy, in a move to incentivise entrepreneurship, creativity and innovation and curb manufacturing and sale of counterfeits.
"We welcome the government's understanding that India's innovative economy requires effective IP protection and hope this commitment will lead to decisive legal reforms," Kilbride said.
The policy, with a tagline of 'Creative India: Innovative India', called for updating various intellectual property laws to remove anomalies and inconsistencies in consultation with stakeholders.
India must provide enhanced certainty for the rights of innovators in line with international best practices, the US Chamber official said.
"We will be carefully reviewing this policy to determine whether this document creates the foundation for such steps.
Regardless, IP will continue to be a central issue for any discussions between India and the international business community," Kilbride said.
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