Yashvardhan S M Kejriwal, School of Law, CHRIST (Deemed to be University)
ABSTRACT
With an emphasis on India's strategy for resolving the issues brought about by unbalanced IPR regimes, this study explores the complex relationship between economic policy and intellectual property rights (IPR). It looks at the fundamental problems with international patenting regimes, such as monopolistic behavior, patent infringement, and the social consequences that come with it, especially in the pharmaceutical sector. The paper examines the Patent Act of 1970 and its provisions for restricting overbroad patents, encouraging innovation, and guaranteeing public benefit, highlighting India's modern legal system.
India protects access to necessary medications and curbs monopolistic tendencies by balancing business incentives with public needs through measures like mandatory licensing and strict patentability criteria. The study also explores India's aggressive efforts to combat biopiracy. including the Biodiversity Act and the Traditional Knowledge Digital Library, which safeguard genetic resources and indigenous knowledge.
Important case studies highlight India's dedication to stopping evergreening and upholding strict requirements for patent grants, such as the historic Novartis AG v. Union of India ruling. The study also looks at how India strategically used IPR waivers to increase vaccination accessibility during the COVID-19 pandemic. In conclusion, it confirms that, in a global setting, India's intellectual property rights (IPR) system is a model for striking a balance between social responsibility, fair knowledge sharing, and economic success.
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