Washington, Jun 19: Science and Technology Minister Kapil Sibal has said India's emerging intellectual property regime will not only uphold the interests of pharmaceutical companies but shall also match their investment on a 50:50 basis to develop collaborative initiatives to mutual benefits in the field of agriculture, marine and health sciences.
Addressing the Indo-US BioPharma Summit 2008, organised by the US-India Chamber of Commerce in Boston yesterday, which attracted over 350 senior bio, pharma, medical and healthcare professionals, the Indian minister urged the US companies to shed their inhibitions. He also promised to offer a congenial fertile environment encouraging public-private partnership.
Drug Controller General of India, Surinder Singh, in his keynote address, talked about implementation of an advanced e-governance drug regulatory system in India.
This unique electronic system is currently being developed with an intense support from the Indian IT sector to suit the Indian context.
Speaking on the occasion, president of the US-India Chamber of Commerce Karun Rishi said innovation and funding it, will get a big boost from this summit. Collaborative Research and strategic alliances will be the key forces driving the business, he said.
Mr Rishi also urged the Indian academic institutions to partner with the US biopharma industry to learn, share, expand capacity and commercialise innovation.
Mr Sibal released the position paper prepared by McKinsey&Company for the US-India Chamber of Commerce.
Titled ''Thought Starters to Spur US-India BioPharma Collaboration'', the report suggested 10 ideas to take the US-India Life Sciences and Healthcare business to next level.