SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Sep, 2014  

Chidambaram.9.Thmb.jpg India's IPR laws compliant with WTO, FM tells US

Chidambaram.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
SME Times News Bureau | 13 Jul, 2013
Seeking to allay US concerns about business climate in India, Finance Minister P. Chidambaram has told American lawmakers that India respects intellectual property rights (IPRs) and its laws are compliant with World Trade Organisation rules.

Chidambaram, who is here on a four-day visit to woo American investors in the midst of a slowdown, told the lawmakers that "the Indian law affirms intellectual property rights (IPRs) and the process of granting compulsory licence and patent registration are WTO compliant and subject to judicial review".

He also stressed the "importance of India becoming a manufacturing hub for meeting its own domestic needs and for rebalancing the global economy", according to an Indian embassy statement.

In a meeting with members of US House of Representatives Thursday, he also expressed India's "discomfort" with the comprehensive immigration bill now moving through US Congress as it would make it harder and more expensive for Indian techies to get H1B visas to work in the US.

This was especially so "because the issue of temporary relocation of knowledge workers, which is not 'immigration' by any definition, has been linked to the larger issue of immigration".

In Chidambaram's view, "the restrictions sought to be placed on knowledge workers amount to non-tariff barriers", the embassy statement said.

Those present during the hour-long meeting were Democrat Co-Chair of House India Caucus Joe Crowley and House members Sandy Levin, Erik Paulsen, John Larson and the lone India-American member of the House Ami Bera.

India's Economic Affairs Secretary Arvind Mayaram and the Indian ambassador to US Nirupama Rao also attended.

"There was a wide ranging discussion that covered the gamut of Indo-US relations. More specifically, issues such as compulsory licensing, patent protection, preferential market access, immigration bill in the US Congress and increase in FDI in areas such as defence and financial services were discussed," the embassy said.

Chidambaram, it said, reiterated that there is close cooperation between the two countries in areas such as security, defence etc. and the civil nuclear agreement between the two countries was path-breaking landmark.

US lawmakers, according to the statement "spoke of their deep interest in promoting India-US relations and advancing mutually beneficial cooperation between the two countries".

"They appreciated the opportunity to exchange views with the finance minister and stressed the value of continuing such dialogues and engagement to accelerate the deepening of the India-US strategic partnership", it said.

Chidambaram also had "useful discussions" with Co-Chairs of the Senate India Caucus Mark Warner and John Cornyn of Texas, the statement said, but gave no details.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter