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July 22, 1999

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Faster, better patent laws called for

ndustry Ministry Secretary Dr S Narayan believes the next 10 years will witness growth in knowledge based industries, which include information technology and biotechnology. Hence, he argued, India will have to convert ''mind into money''.

Email this story to a friend. Narayan was addressing an interactive session on 'Indian patent law: approaches', in New Delhi. He said Indian scientists are respected all over the world. Most of the country's scientists and entrepreneurs are taking patent for their inventions or ideas in the United States and other foreign countries because of time-consuming procedures in India.

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He said the time has come for the Indian industry to equip itself to face the game in the global market instead of complaining about the rules of the game.

Dr Narayan said by January, seven laws have to be enacted by the new parliament, keeping in view the international objectives, which the country has accepted. The trade related aspects of intellectual property rights would be reviewed next year.

He said the industry ministry was holding a series of interactive sessions across the country to elicit views, comments and feedback from various interest groups on the amendment of the Indian Patent Law for which India has to meet the TRIPS deadline of December this year.

He said the current process is to work within the parameters of international laws while protecting national interests.

Satyam Computers Chairman Ramalinga Raju said India has the potential to become the world leaders in software and IT industry.

The world is moving towards acquiring wealth through the mind, he added.

UNI

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