Financial Daily from THE HINDU group of publications
Friday, May 10, 2002
Financial Daily from THE HINDU group of publications Friday, May 10, 2002 |
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IPR Industry & Economy - IPR Patents Bill passed Our Bureau
NEW DELHI, May 9 THE Rajya Sabha on Thursday passed the Patents Bill which will enable India to fall in line with the World Trade Organisation-administered Trade Related Intellectual Property Rights Regime. The legislation was passed without the Upper House yielding any concessions on public health. In his reply to the five-hour long debate on the Patents Second Amendment Bill 1999, the Commerce and Industries Minister, Mr Murasoli Maran, said that the Government would have enough powers to resist the influence of multinational companies and check the rise in prices of essential drugs. The Government has retained the right to invoke provisions of national emergency and compulsory licensing in the amendment bill. Mr Maran said that the passing of the Bill was a WTO obligation honoured by the country without harming the national interests.
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