New Delhi: The global economy is now increasingly innovation-driven – powered by knowledge, creativity, and technology, each of which is supported by intellectual property (IP) and protection of IP rights. With India and the United States, two leading world economies becoming global strategic partners, it is in the interest of both countries to continuously engage in bilateral IP issues for mutual interest.
Addressing the ‘3rd edition of India-US IP Dialogue: Opportunities for US – India Collaboration’, organized by FICCI, jointly with US Chamber of Commerce, Mr Narendra Sabharwal, Chair, FICCI IPR Committee yesterday said, “The India-US IP dialogue has proved to be extremely fruitful in deliberating bilateral and global issues on intellectual property, while reaffirming the resolve on both sides to identify and explore pragmatic solutions to challenges and concerns. Innovations supported by IP is a key to mitigating the COVID-19 challenge by way of strengthening healthcare systems, fostering science and technology development, and managing accessibility and affordability of healthcare.”
“The need is to re-ignite the engine of economic recovery and growth in both the counties through IP-led innovation. The dialogue enabled both sides to discuss several important areas in an open and transparent manner. FICCI is committed to explore areas of cooperation & partnership to establish a favourable innovation and IP ecosystem in India and addressing IP concerns of the business community on both sides in order to boost our dynamic trade and economic relations,” added Mr Sabharwal.
The discussions brought together experts and thought leaders from both the countries, including officials from the Department for Promotion of Industry & Internal Trade, U.S. Department of State, U.S. Patent & Trademark Office and Office of the U.S. Trade Representative, stakeholders from industry, academia and the legal fraternity to deliberate upon the bilateral IP issues of mutual interest. The deliberations were on a range of topics like the significance of innovation and public-private partnership in confronting the ongoing pandemic, dealing with trademark and copyright enforcement issues, IP licensing & commercialisation and the growing relevance of trade secrets in the digital age.
India has a robust and balanced IP system which keeps in view national development priorities and concerns while conforming to international commitments. The National IPR Policy 2016 lays down a comprehensive road map for the overall future development of India’s IP system. Focussed bilateral interactions periodically, like the India-US IP Dialogue, provides the much-needed occasion for constructive engagement on a range of IP issues of interest to India and the US, helping further strengthening of Indo-US economic partnership.