In the backdrop of recent debates on pharmaceutical and drug compulsory licensing norms, India has taken a serious position in safeguarding the Intellectual Property Rights in the country with a focus on Pharmaceutical Industries. At the recent meeting of the Trade and Economic Relations Committee, our PM agreed to the fact that in the recent past there were apprehensions and concerns about the intellectual property rights issues in context of Indian pharmaceutical products. He indicated that the Indian side will not take any other obligations apart from the Trade Related Intellectual Property Rights (TRIPS) agreement and domestic law.
Apart from the Intellectual property rights in the Pharmaceutical sector, the committee also discussed about India-EU Bilateral Trade and Investment Agreement. Meanwhile the committee also held talks and discussions about the policy framework for raising bilateral trade relationships with Australia and Southern Africa. The Bilateral trade will aid India as well as other trading countries by providing better economic stability and economic welfare. Well, we can hope such agreements will provide vibrant, stable and secured economic future to the country.
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