India`s patent laws were amended in accordance with the TRIPS Agreement after India signed the TRIPS Agreement. As a result, many multinational companies have started investing in India. Multinational companies have also begun their research and development process in India, which has indirectly boosted India`s economic growth and created jobs for the Indian people. Currently, India needs to invite more multinational companies to invest in India and start their research and development process. In this way, India`s economy will grow. India`s pharmaceutical industry has grown from $6 billion to $30 billion over the past decade, with many multinational pharmaceutical companies investing in India after 2005 and starting their research and development process. Intellectual property protection plays a very important role in India. Over the past two or three decades, a number of changes have been made to intellectual property policy and regulations in India to improve the protection of intellectual property, i.e. patents, trademarks, copyrights, designs and geographical indications. India signed the TRIPS Agreement in 1994, which entered into force on 1 January 1995. In India, pharmaceutical patents were not granted until 1995, which changed after the entry into force of the TRIPS Agreement and led to the amendment of the Patents Act 1970 of 1995.
Article 5 of the Patents Act of 1970, which stipulates that the patent is granted only for processes or processes and not for products, was repealed after the 2005 amendment, and therefore today the patent is granted not only for processes or processes, but also for pharmaceutical products, which has had a very significant impact on the growth of the economy. A patent is one of the most effective intellectual qualities for achieving economic development. The number of Indian patent applications filed in recent days has increased compared to previous years and has thus led to economic growth. At present, multinationals based in India have clearly proven the impact of intellectual property on the growth of the economy around the world. [2] www.ipindia.nic.in/history-of-indian-patent-system.htm 1994, India signed the TRIPS Agreement, further amending India`s patent laws under the TRIPS Agreement. Previous patents have only been granted for processes in India that were modified in accordance with the TRIPS Agreement in 2005. According to this, patents are granted not only for processes or processes, but also for products. This change is used by various companies and individuals. The number of Indian patent applications has increased as a result of this change.
Recently, various domestic and multinational companies have started their research and development process and invested in India, as the implementation of intellectual property laws in India is better than the old patent system in India and various provisions regarding patent law infringement are set out in the Patent Act 1970. A survey on the filing of patent applications in India was conducted from 1999 to 2017. The survey clearly shows an increase in the number of patent applications year by year after India signed the TRIPS Agreement and also shows a very sharp increase in the number of patent applications after the years 2004-2005, with Section 5 of the Patents Act 1970 having been repealed in 2005. If you have access to the content of a journal through a university, library or employer, register here Previously, multinational companies were not interested in including research and development as a process in India due to many issues, especially related to the implementation of IP laws and the risk of harm at an upstream stage. India`s first Patents Act was created in 1856, which was later repealed by the 1857 Act and enacted without the consent of the British Crown. New patent law legislation, Act XV of 1859, was introduced in 1859 by the British Crown, on the basis of the United Kingdom Act of 1852. In 1911 came “The Indian Patents and Designs Act”, which replaced all previous laws and the law placed the administration of patents under the administration of the Comptroller of Patents for the first time. After independence, a new Patent Act was enacted, namely the Patents Act of 1970, which came into force in 1972 because it was believed that the previous Act, i.e. the Indian Patents and Designs Act of 1911, did not achieve its purpose. India`s pharmaceutical companies are the third largest in the world due to the production of generics at very reasonable prices and export these drugs to many countries such as Africa, Latin America and other Asian countries, as production costs in India are very low compared to the United States and Europe.
According to the WIPO (World Intellectual Property Organization) report, the filing of pharmaceutical patents is the second most important issue in India and this was ignored after 2005, when India enacted the law allowing product patents. India`s pharmaceutical industry grew from $6 billion in 2005 to $30 billion in 2015 and is expected to reach $55 billion by 2020. Contact us if you have trouble logging in. You can be logged in at the same time using one or all of the methods listed below. If you have access to a journal through a society or associations, read the instructions below [3] nopr.niscair.res.in/bitstream/123456789/43423/1/ALIS%2064%284%29%20260-267.pdf [1] www.wipo.int/export/sites/www/about-ip/en/studies/pdf/wipo_unu_07_india.pdf If you have access to a journal through a society or association, please access your company`s magazine, select an article to view. and follow the instructions in this field. Some business magazines require you to create a personal profile and then activate your business account Log in here to access free tools such as favorites and notifications, or access personal subscriptions Access to social magazine content varies by title. .