U.S. Must Exercise Care In Verdicts On India's Trade Policies

By siliconindia | Thursday, 13 February 2014, 12:32 Hrs

The U.S. and India, Subramanian said, individually and collectively, have a vital common interest and key role in ensuring China's peaceful rise.

"Thus, trade and economic relations between India and the U.S. need a broad strategic framework for which this hearing should pave the conditions. This framework would include as critical elements embracing the principle of, and initiating preparatory work toward, a free trade agreement in the medium term," he said.

Srividhya Ragavan, Professor of Law at the University of Oklahoma College of Law, said that India's recent enactment and implementation of its patent law is fully in accord with the World Trade Organisation's Agreement on Trade Related Aspects of Intellectual Property Rights (TRIPS).

She said India has demonstrated its adherence to TRIPS and to non-protectionism and a national treatment regime by revamping its systems, instituting massive changes to further intellectual property rights and by establishing prudent IP standards that apply equally to both domestic and foreign companies.

Each of these standards remains in conformity with the TRIPS agreement and carefully calibrated to accommodate its national objectives within the scope of the flexibilities accorded under the TRIPS agreement, she said.

India has adopted, within the framework of allowable pluralism under TRIPS, a stronger definition of industrial applicability than the U.S., Ragavan said.

Source: PTI