A STUDY ON STRONG INTELLECTUAL PROPERTY RIGHTS : FUTURE OF INNOVATION IN INDIA

Since the 1980s, there has been a global trend towards harmonising Intellectual Property (IP) laws around the world. In order to comply with this global mandate, developing countries, such as India and China, have had to reform their IP laws and bring them up to global standards. Most developing countries including India have traditionally preferred a “weak” IP Rights (IPR) regime given that the vast majority of the population has limited access to essential products and services. In 1970, fearing increases of prices of essential commodities such as pharmaceutical drugs and agricultural chemicals, India outlawed a relatively innovator-friendly IP regime that provided up to sixteen years of patent protection. In 1994, bowing to pressure exerted by the members of the World Trade Organisation (WTO) and developed countries that sought access to Indian markets, the Indian government signed the Trade-related Aspects of Intellectual Property Rights (TRIPS) treaty and committed to making its IPR more innovator-friendly. In order to comply with TRIPS, India allowed for the filing of product patents for pharmaceutical, agricultural and chemical products which went into effect from January 1, 2005.