India remains among the most challenging economies worldwide concerning the protection, management, and enforcement of Intellectual Property (IP). The Office of the US Trade Representative (USTR) said the same in a recent report as it decided to retain the nation on the Priority Watch List 2022.
The USTR designated seven nations, including Argentina, Chile, China, India, Indonesia, Russia, and Venezuela, on the Priority Watch List under its 2022 Special 301 Report.
The USTR mentioned that Ukraine’s review has been suspended, keeping in mind the unprovoked and premeditated invasion of the nation.
In one of the sections of the report dedicated to India, the USTR said that the nation has remained at odds with its progress on the protection, management, and enforcement of IP. It further stated that although India made significant progress in some areas over the past year to promote IP protection, management, and enforcement, it couldn’t resolve the recent and long-standing challenges and created new matters of concern for the rights holders.
The report even specified that India’s accession to the World Intellectual Property Organization (WIPO) Copyright Treaty and WIPO Performances and Phonograms Treaty, together known as the WIPO Internet Treaties, in 2018 and the Nice Agreement in 2019 were undoubtedly positive steps towards the ultimate path of IP Protection.
On the contrary, the USTR mentioned that the potential threats of narrow patentability criteria, lack of presumption of patent validity, and patent revocations under the Indian Patents Act affect business companies and brands across different industries.
The USTR stated that in spite of India’s repeated justifications for limiting the IP protection as a way to encourage and promote access to technologies, the nation imposes pretty high customs duties on IP-intensive products, including pharmaceuticals, medical devices, solar energy equipment, information & communication technology products, and capital goods.
The USTR also said that it is continuing to monitor closely the restriction on the patent-eligible subject matter under Section 3(d) of the Indian Patents Act and its impact specifically on the pharmaceutical industry.
The report even mentioned that pharmaceutical stakeholders also express their concerns and issues time and again as to whether India has an efficient mechanism for the early resolution of potential patent disputes and lawsuits, specifically the shortcomings in notifying interested parties about marketing approvals. For more visit: https://www.trademarkmaldives.com
Don’t forget to follow us on social media:
Facebook – https://www.facebook.com/trademarkmaldives/
Twitter – https://twitter.com/trademarkmaldiv
Linkedin – https://www.linkedin.com/company/trademarkmaldives/
Pinterest – https://in.pinterest.com/trademarkmaldives/