NEW DELHI: Three major U.S. companies-Boeing, Abbott and Honeywell have come in support of India's IPR regime, which has come under attack by American pharma sector for alleged violations of global norms. America's major defence company Honeywell, civil aviation firm Boeing and drug major Abbott have come out strongly in support of India's IPR regulations.
Similarly, Honeywell International has said that an acceptable IPR legal framework exists in India. "...India's IPR framework was one of the key enablers in the establishment of Honeywell's engineering and technology presence," it has said. Abbott too have said that India is an investment priority and fundamentally important to the future of the company.
"We have had a positive experience in India, (we) are committed to a long-term presence, and remain optimistic about our future...," Abbott has said in a five-page note. These statements assume significance on the backdrop of U.S. industry, particularly the pharmaceuticals sector, and trade lobbies putting pressure on their government to place India under the Priority Foreign Country list for IPR.
Under the U.S. Trade Act, a Priority Foreign Country is the worst classification given to those that deny adequate and effective protection of IPR or fair and equitable market access to U.S. entities relying on IPR protection. The U.S. Trade Representative (USTR) is scheduled to come out with a report on April 30 on Special 301, which talks about IPR regime of countries.
The U.S. trade law requires an annual review of intellectual property protection and market access practices in foreign countries. The Special 301 Report highlights the economic importance of IP to the U.S. economy and details other countries' IP protection and enforcement-related efforts.