Intellectual capital fuels creative economy: Nisha Desai Biswal

Intellectual capital fuels creative economy, says head of the US-India Business Council Nisha Desai Biswal. As India’s IT industry advances and its content economy grows, she pointed out that an effective IPR regime is foundational to achieving the government’s goal of a US$1 trillion digital economy.

Biswal stated this at the third annual India-US IP Dialogue on Friday which was organized by the US Chamber of Commerce’s Global Innovation Policy Center (GIPC) and USIBC, in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI). The third annual IP Dialogue was attended by government and industry leaders. It proved to be incredibly impactful, with intellectual property playing a key role in efforts to study and combat the ongoing global pandemic.

“IPR protections also support the success of Digital India, Make-in-India and other cornerstone initiatives,” she said. “The IP Dialogue is an opportunity for the US and Indian governments to come together to discuss issue critical to our bilateral relationship.”

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Patrick Kilbride, senior vice president of the US Chamber’s Global Innovation Policy Center, highlighted that this month’s promising news on vaccines and treatments for COVID-19 pandemic is a signal that the UN framework for intellectual property is working. “Globally, we have mounted an all-hands-on deck response, with the private sector leading the charge to deliver a safe, effective vaccine for this terrible disease,” he said. “India, with its strong domestic industry and innovative capacity, can play a major role in fighting the pandemic; the time is now.”

India and the US also signed an MoU to increase cooperation in the field of intellectual property by facilitating exchange and dissemination of best practices, collaboration in training programs and outreach activities.