New IPR policy to push economic growth: Minister
The national Intellectual Property Rights (IPR) policy is in the offing and release of this policywill give India much-needed push in its economic growth and socio-economic developmental agenda,Union Minister Ram Vilas Paswan has said. The Minister for Consumer Affairs, Food and Public Distribution was speaking at the International Conference on Illicit Trade – Threat to National Security and Economy, organised by Federation of Indian Chamber of Commerce and Industries Committee Against Smuggling & Counterfeiting Activities Destroying Economy ((FICCI CASCADE). Paswan said that the country’s views on IPR and enforcement laws domestically are increasingly important to its international trading partners and to prospective business investors. “Given the key role of technology, invention and innovation in India’s current economic development, the value of ‘India made’ intellectual property is increasing. However, counterfeits and fakes are posing to be a key threat to India’s growth strategy,” he added. Najib Shah, Chairman, Central Board of Excise and Customs (CBEC), pointed out that there was an urgent need for a structured dialogue between businesses and enforcement agencies to counter the menace of illicit trade. He said that there was a lack of enthusiasm amongst businesses in registering the IP right, a step that was essential in enabling the authorities to check malpractices. Amongst the counterfeit products that have pervaded the Indian market, the most rampant were tobacco, FMCG and auto parts, he noted. “In recent time, e-commerce has emerged as a major channel for illicit trade,” he said. Linking illicit trade to the terrorism, Anil Rajput, Chairman, FICCI CASCADE, said “It has now been clearly established that the major sources of their funding is the illicit trade in oil, antiquities, cigarettes and a host of other products that the terror group so skillfully manages.” There is a need to strengthenthe enforcement agencies and working towards the removal of ambiguities in the law related to illicit products, he added. On the occasion, FICCI CASCADE released a joint publication with Grant Thornton on ‘Emerging Challenges to Legitimate Business in the Borderless World’. The conference saw a host of notable international speakers from World Intellectual Property Organization, (WIPO), U.S Patent and Trademark Office (USPTO), Japan External Trade Organization (JETRO), among others.
January 16, 2016 | 04:30pm IST
to success.