India, US cooperation for strong IPR regime

Chennai, Apr 28: India and the US should work in tandem to establish a world-class Intellectual Property Rights (IPR) regime to counter piracy that is consuming a major chunk of revenue, US Consulate Chennai Consul General David T Hopper said today.

Addressing a round table meeting on IPR organised by Southern India Chamber of Commerce and Industry (SICCI) here, Mr Hopper said the Indian industry stand to gain much from strong IPR regime and it had a major role to play in IPR protection.

Due to piracy the Indian film industry was making an average lose of 80 per cent revenue. Though many American companies had evinced interest in investing in India, lack of IPR protection was holding them back. The strong IPR regime in the US had helped the US services sector to reap success, he added.

In his key note address, Intellectual Property Appellate Board Chennai Technical Member S Chandrasekaran said the Indian IPR had improved a lot in the changing economic scenario, and the country presently had the capability to grant patent to any item within ten months time.

UNI