Financial Daily from THE HINDU group of publications
Thursday, Apr 22, 2004
Financial Daily from THE HINDU group of publications Thursday, Apr 22, 2004 |
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Marketing
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Piracy FICCI, US Chamber join hands to fight piracy Our Bureau
New Delhi , April 21 THE Federation of Indian Chambers of Commerce and Industry (FICCI) will have a new partner to combat piracy and counterfeiting — the US Chamber of Commerce. This was disclosed by Mr Thomas J. Donohue, President & CEO, US Chamber of Commerce, at an interactive meeting on `Piracy and Brand Protection: India - US Collaboration' organised by FICCI here. FICCI and the US Chamber of Commerce will share analyses of legislation, regulations and other measures taken or proposed to combat piracy and counterfeiting in each country. They have also agreed to share critical and relevant information, and organise joint public education programmes. It has also been proposed that a joint conference with representatives of industry, law enforcement, the courts and national and State legislatures be organised. According to Mr Donohue, the present paradigms offer tremendous opportunities for both the countries to forge a meaningful partnership in diverse areas such as trade, technology and business efficiency. On the issue of intellectual property, he asserted that a strong IPR and information security regime is a critical enabling condition for the global knowledge trade. He was of the view that without a strong IPR regime, the potential for developing cross-border research and development in India will be suppressed on account of the resulting high transaction cost of monitoring and enforcing contracts. Further, he added that a robust IPR regime is the best safeguard of intellectual property for India and other countries in developed country markets. Commenting on the trade between the two countries, Mr Donohue lauded the initiatives that India has taken to open its trade and investment markets. "We hope to see more progress on the barriers that remain," he added. He asserted that as both the nations continue to expand bilateral trade, there is a need to move the Doha process forward so that issues such as agriculture can be resolved through some practical agreements whose benefits can extend across the globe. Speaking at the meeting, Mr Navin B. Chawla, Secretary, Department of Consumer Affairs, highlighted how in a globalised economy, pirating of intellectual property has become a major transnational problem that dilutes the brand equity and profitability of enterprises. According to Mr Chawla, estimates show that the FMCG sector loses approximately 15 per cent to counterfeit goods, with several top brands losing up to 30 per cent of their business. In the pharma industry, an estimate puts counterfeit medicines as high as 40 per cent. With a view to promote and protect the interests of consumers, the Department of Consumer Affairs has set up six working groups to look into consumer welfare. The groups deal in counterfeit, fake, spurious and contraband products; food safety; misleading advertisements; drugs, pharmaceuticals and medical devices; consumer health and safety concerning tobacco products; and formulating the new Acts or amend the existing Acts relating to consumer interest, he said.
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