The Fallout of Patents Ordinance

THE PATENTS (Amendment) Ordinance, 2004 introducing product patents for all industrial sectors has been announced and along with the deletion of Section 5 of the principal Act of 1970, dealing with the exemption of drugs, foods and chemicals from the scope of product patents, a few new features have been added. Those who oppose India honouring its commitment under the GATT (General Agreement on Tariffs and Trade) of which Trade Related Intellectual Property Rights (TRIPS) was a part, aften forget that the country has much to gain by being a member of the global community, considering that it is among the fastest growing economies and perhaps the second largest repository of scientific and technical talent in the world. Myopic visions of some interest groups do not help broader macro-economic considerations affecting various sectors of the Indian economy, whether they are in textiles, other manufactured goods or agriculture.