Financial Daily from THE HINDU group of publications
Thursday, Mar 24, 2005
Financial Daily from THE HINDU group of publications Thursday, Mar 24, 2005 |
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Government
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Policy Marketing - IPR Industry & Economy - Pharmaceuticals Patents Bill approved Our Bureau
New Delhi , March 23 THE Rajya Sabha on Wednesday approved the controversial Patents (Amendment) Bill 2005 that marks the beginning of the product patent regime in the country. The Lok Sabha had approved the Bill on Tuesday. The Opposition, National Democratic Alliance, which demanded referring the Bill to the standing committee, staged a walk-out, as their demand was not accepted by the Chair. The Left parties, who supported the passage of the Bill in the Lok Sabha, supported the Government as most of the amendments that they had demanded had already been accommodated by the Government while moving the Bill in the Lok Sabha on Tuesday and two had been referred for technical screening. Last December, the Government had promulgated an ordinance to meet the country's statutory obligations to the World Trade Organisation, which stipulated that India should have in force a product patent regime from January 1, 2005. This new Patent Bill now replaces the ordinance.
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