The Hindu Business Line : ‘Strong IPR regime vital to attract investments’

Kolkata, June 22 Improving intellectual property rights protection will be an important element in making the climate in India more attractive to private investment, according to Mr Moulik D. Berkana, Deputy Director, American Center, Kolkata.

Addressing a seminar on ‘Intellectual Property Rights: Issues and Challenges’ organised here by the Indian Chamber of Commerce, Mr Berkana said “countries that protect intellectual property will invite and nurture the type of innovation that leads to economic growth…..Weak intellectual property enforcement is a major barrier to increased trade”.

According to him, it was imperative for nations to put in place a strong IPR regime if they were to attract new investment and allow innovators to develop new technologies. “Fair, strong and non-discriminatory IPR enforcement creates economic incentives that encourage innovation,” he said. The need of the hour was to protect the incentives that motivate entrepreneurs to pursue their ideas.

“A thriving, diversified economy must protect its intellectual property rights. This protection is at the very heart of the global economy,” he said.

Mr Berkana said the US’ ability to ensure a secure and reliable environment for intellectual property around the world was critical to the strength and expansion of the US economy, and the global marketplace as a whole.

He citied a Business Software Alliance study which states that a 10-point reduction in India’s software piracy rate would facilitate the creation of 115,000 new jobs in the IT sector, and this would add almost $6 billion to the Indian economy. Strengthened IP protection would also help India in augmenting its tax revenues, he said.

In his address, Mr Sanjay Buddhia, Senior Vice-President of the chamber, said IPR issues would have to be brought on to the national agenda “with a sense of urgency”.

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