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The Centre brought into effect key changes to its patent law on Monday to cover a range of products from drugs and chemicals to mobile phone and computer software, in line with commitments to WTO.
Commerce and Industry Minister Kamal Nath said the amendment to the patent law was made through a presidential decree issued on Sunday, and played down fears of a spike in drug prices.
The decree signals a breakthrough in patent reform, which had been stalled by concerns raised by communist allies of the ruling coalition and opposition parties, who wanted adequate safeguards to maintain price stability of life-saving medicines.
“The fear that prices of medicines will spiral is unfounded,” Nath said. —Reuters
