Monsanto verdict shows patent laws won't be hostage to populism: Kilbride

The government's recent resort to price controls on innovative products sends a conflicting message, says GIPC Vice President Patrick Kilbride

Patrick Kilbride, senior vice president of international intellectual property for the Global Innovation Policy Center (GIPC) at the US Chamber of Commerce, tells Sudipto Dey that the apex court ruling augurs well for investment in India’s innovative sectors. Edited excerpts:

On the implications of the SC ruling for India's IPR regime:

The Supreme Court decision upholding the Monsanto seed patent sends an important signal to markets that India's patent laws will not be subject to political discretion or held hostage to fleeting popular sentiment. The reliability of a country's patent system is a key indicator of private sector willingness to invest in long-term, high-risk, capital-intensive innovative and creative activities. Irrespective of technology sector, innovators, foreign and domestic, are likely to view today’s decision as yet one more signal of maturing economic governance in India. 

Whether this will encourage international companies to bring in new technologies to the country:

Taken in the context of the National IPR policy and related measures to strengthen IP rights and enforcement across the economy, this augurs well for further investment in India’s innovative and creative sectors. It is no coincidence that such a decision is handed down at a moment when India is forecast to continue to enjoy growth in excess of seven per cent. Innovative and creative sectors are central to growth in a 21st century knowledge economy. India's increasing commitment to setting the conditions for growth in these sectors through a strong foundation of private property rights in intellectual capital sets it on a path toward global economic leadership.

On impact of price control on intellectual capital formation:  

The government’s recent resort to price controls on innovative products sends a conflicting message. In multilateral venues such as the United Nations, Indian representatives continue to promote rhetoric suggesting IP rights should be discretionary. Inconsistent signals and conflicting policy measures threaten to undermine India's hard-won gains in investor confidence.