New Delhi, Sept. 28
The Deputy Economic Counsellor, Embassy of United States of America, Mr John Fennerty, has said that American companies will refrain from making investments in India until the Government guarantees them adequate data protection. Inaugurating a seminar on `Intellectual property rights', organised by Assocham, Mr Fennerty said that existing intellectual property rights in India were not forceful enough to provide data protection, which will prevent multinationals from making their investments here.
He cited an example of the health sector saying that Indian populace would have access to health related medicines manufactured and produced by domestic companies only and not by those who are recognised the world over because India did not guaranteed them adequate protection for their intellectual properties. Mr Fennerty said that India should pass a legislation that can ensure hundred per cent safety to intellectual properties that are built through hard research and development research undertaken by multinationals.