Effect Of Trips Agreement On India

Effect Of Trips Agreement On India

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Intellectual property protection plays a very important role in India. Over the past two or three decades, a number of changes have been made to IP policy and regulation in India to strengthen intellectual property protection, including patent, trademark, copyright, design and geographic indication. India signed the TRIPS agreement in 1994, which came into force on 1 January 1995. In India, pharmaceutical patents were not issued until 1995, which changed after the TRIPS agreement came into force and was amended in 1995 by the Patent Act 1970. Section 5 of the 1970 Patent Act, which states that the patent is issued only for methods or processes and not for products, was repealed as a result of the 2005 amendment, so that methods or processes are now being granted not only, but also pharmaceuticals that have had a very large influence on economic growth. A patent is one of the most effective intellectual characteristics for achieving economic development. The number of patent applications filed by India in recent days has increased compared to previous years and has therefore led to economic growth. Today, multinational companies based in India have clearly demonstrated the impact of intellectual property on global economic growth. In 1994, India signed the TRIPS agreement, so that India`s patent laws were further amended in accordance with the TRIPS agreement. Previous patents have only been granted for procedures or procedures in India that have been amended in accordance with the 2005 TRIPS agreement. Subsequently, patents are issued not only for methods or processes, but also for products.

The benefits of this change are exploited by different companies and individuals. The number of Indian patent applications increased after this amendment. Recently, several national and multinational companies have begun their research and development process and have invested in India, as the implementation of IP legislation in India is better than in the old patent system in India, and various provisions regarding patent infringement are defined in the Patent Act 1970. From 1999 to 2017, a survey was conducted on patent filings in India. The survey clearly shows an increase in the number of patent applications from year to year after India signed the ON TRIPS agreement and also shows a very significant increase in the number of patent applications after 2004-2005 as Section 5 of the Patent Act, 1970 was repealed in 2005. [2] www.ipindia.nic.in/history-of-indian-patent-system.htm Indian patent law was amended in accordance with the ON TRIPS agreement after India signed the ON TRIPS agreement. As a result, many multinationals have begun to invest in India. NCMs have also begun their research and development process in India, which indirectly increased India`s economic growth and enabled the Indian population to gain jobs. Currently, India needs to invite more multinationals to invest and launch their research and development process in India. In this way, the Indian economy will grow. India`s pharmaceutical industry has grown from $6 billion to $30 billion over the past decade, as many multinational pharmaceutical companies have invested in India and begun their research and development process after 2005.

[1] www.wipo.int/export/sites/www/about-ip/en/studies/pdf/wipo_unu_07_india.pdf Indian pharmaceutical companies are the third largest in the world, with generics produced at very low prices and exported to many countries such as Africa, Latin America and other Asian countries, as production costs are very low in India compared to the United States and Europe.