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Apr 21, 2014
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India-US ties headed for rough weather over drug IP issue
Facing the threat of sanctions by the US for what it terms India’s lax intellectual property (IP) rules, the Commerce Ministry is studying the possible impact on trade with the US if Washington goes ahead with its action.
The Office of the US Trade Representative is to come out with its annual Special 301 report by the month-end on the adequacy and effectiveness of IP rights protection by its trading partners.If the report classifies India as a ‘priority foreign country’ — as demanded by the US pharmaceutical lobby — Washington could impose economic sanctions against India that will include withdrawal of duty-free benefits or imposition of penal duties.
Source -
http://www.thehindubusinessline.com
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