1 min readNew DelhiNov 4, 2014 04:26 AM IST
First published on: Nov 4, 2014 at 04:26 AM IST
Multinational organisations including PepsiCo and industry associations like IPA, have come in favour of India’s intellectual property regime, which is being reviewed by the US administration.
In its submission to the US Trade Representative, Indian Pharmaceutical Alliance (IPA) said complaints against the Indian patent regime ought to be viewed in the light of the overall record.
Between January 2005 and 10 October 2014, India has granted 1,039 patents to domestic companies, while 3,575 patents have been granted to foreign firms, it said.
“We urge the USTR to take note of the global recognition of the attractiveness of India as destination of FDI, the willingness to engage in dialogue to remove impediments to FDI, the making of IP policy and its implementation and evolving jurisprudence; to recognize the concerted efforts being made to improve the functioning of the Indian Patent Office,” it added.
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