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Sunday, Sep 22, 2002

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`Poor enforcement of IPR law costs Govt Rs 10,000 cr'

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NEW DELHI, Sept. 21

THE failure to enforce laws on intellectual property rights (IPRs) has taken a heavy toll on Government revenues, with the Government foregoing tax revenues of over Rs 10,000 crore annually due to the proliferation of counterfeit consumer products alone, according to the Chief Justice of Delhi High Court, Mr S.B. Sinha.

Addressing a seminar on new IPR laws organised by the Associated Chambers of Commerce and Industry (Assocham), Mr Justice Sinha pointed out that the acceptance of counterfeit products by consumers came in the way of implementation of IPR laws.

The Minister of State for Coal, Mines, Law and Justice, Mr Ravi Shankar Prasad, said it was critical to adjust the legal system to respond rapidly to the new technological environment in an effective and appropriate manner.

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