India placed on the “Priority Watch List” for Intellectual Property Protection by the US
The United States of America has placed India on the “Priority Watch List” due to lack of measurable improvements in intellectual property framework.
Along with India, the US has placed 10 countries including China in the list. The US has taken the step alleging that intellectual properties and their enforcements have deteriorated equitable market access for Americans in these countries. The other countries placed on the list include Argentina, Algeria, Chile, Russia, Indonesia, Saudi Arabia, Venezuela and Ukraine.
The countries that were removed from the list included Canada, Kuwait and Thailand.
Why is India placed on the list?
According to the US, the IP challenges in India makes it difficult for the US businessmen to receive, maintain and enforce patents in the country. This is high mainly in pharmaceutical industries. The US also complains that India has restricted transparency in state issued pharmaceutical manufacturing licenses.
Apart from pharmaceuticals, there were issues in the Indian system in agricultural chemical products as well according the US. The issues include trade secret theft, online piracy, obstacles to protect trademarks, export of counterfeit goods, high-volume manufacturing.
According to World Intellectual Property Right Organization, the Intellectual Property is the creation of literary and artistic works, symbols, names, images. The four main intellectual property rights include inventions, geographic indications, trademarks and industrial designs.
Month: Current Affairs - May, 2020
Category: International Current Affairs