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Global growth to be hit if IP norms not waived to deal with COVID-19: India

In October 2020, India and South Africa submitted a proposal suggesting a waiver for all WTO (World Trade Organization) members on the implementation, application and enforcement of certain provisions of the TRIPS Agreement in relation to the prevention, containment or treatment of COVID-19.

February 28, 2021 / 08:34 AM IST

India said if members of the WTO would fail to deliver on a proposal on waiving certain intellectual property obligations to deal with COVID-19 pandemic, it would impact global growth and livelihood.

In October 2020, India and South Africa submitted a proposal suggesting a waiver for all WTO (World Trade Organization) members on the implementation, application and enforcement of certain provisions of the TRIPS Agreement in relation to the prevention, containment or treatment of COVID-19.

The agreement on Trade-Related Aspects of Intellectual Property Rights or TRIPS came into effect in January 1995. It is a multilateral agreement on intellectual property (IP) rights such as copyright, industrial designs, patents and protection of undisclosed information or trade secrets.

"If we fail in the next one or two quarters or not delivering on that, let me tell you that it is not the question of equity, we are coming in the way of global growth and livelihood. It is not that we are coming in the way of life.