WIPO treaty a huge win for India, Global South: Ministry

New Delhi, May 26 (IANS) The World Intellectual Property Organisation (WIPO) treaty on intellectual property, Genetic resources (GRs) and associated traditional knowledge (ATK), is a significant win for countries of the global South and for India, Ministry of Commerce & Industry said on Sunday.

The treaty marks the start of the journey to achieve collective growth and deliver the promise of a sustainable future, a cause which India has championed for centuries, the ministry said in a statement.

“For the first time the connection between local communities and their GRs and ATK is recognised in the global IP community,” it added.

The treaty will not only safeguard and protect biodiversity but will increase transparency in the patent system and strengthen innovation.

Through this treaty, the IP system can continue to incentivise innovation while evolving in a more inclusive way, responding to the needs of all countries and their communities.

The treaty also marks a big win for India and the global south which has for long been a proponent of this instrument.

After two decades of negotiations and with collective support this treaty has been adopted at the multilateral fora, with a consensus among more than 150 countries.

“The treaty on ratification and entry into force will require contracting parties to put In place, mandatory disclosure obligations for patent applicants to disclose the country of origin or source of the genetic resources when the claimed invention is based on genetic resources or associated traditional knowledge,” the ministry elaborated.

At present, only 35 countries have some form of disclosure obligations, most of which are not mandatory and do not have appropriate sanctions or remedies in place for effective implementation.

“This treaty will require contracting parties, including the developed world, to bring changes in their existing legal framework for enforcing disclosure of origin obligations on patent applicants,” the ministry noted.

Disclaimer: This story has not been edited by the Sakshi Post team and is auto-generated from syndicated feed.