Asia Pulse Businesswire via NewsEdge Corporation : NEW DELHI, Oct 20 Asia Pulse - Despite the Left Parties asking the government to address the concerns of Indian companies before seeking amendments in the Patent Law, Commerce Minister Kamal Nath today said the country would meet the deadline for product patent protection.
"Our Patent Law is currently fully TRIPS compliant. Our obligations require that we provide for product patent protection with effect from January 1, 2005. We shall do it," the Minister said here, inaugurating the OECD-India Investment Roundtable.
He said the medical expertise and para-medical skills available in India make it an ideal place for pharmaceuticals and clinical research.
The Left parties yesterday asked the Government to refer the Patents (Amendment) Bill to a Parliamentary Standing Committee, and not bring an ordinance for legislation.
They said the Government could meet the deadline even with retrospective effect.
The Federal Cabinet, in its meeting on August 26 this year, referred the bill to a Group of Ministers for studying the implications of some of the contentious issues in the bill.
The Bill is expected to be tabled in Parliament during the winter session.
Nath said the Bill on Special Economic Zones would also be introduced in the winter session which would include provisions relating to Bio-Technology Parks and Free Trade and Warehousing Zones.
"In all these, FDI up to 100% would be premitted, including in the real estate development and establishment of Zones. We see SEZs as hubs of manufacturing and FTWZs as trading hubs," the Minister said.
