WIPO treaty a big win for India & global south: Commerce ministry
genetic resources and associated traditional knowledge at the World Intellectual Property Organization (WIPO) is a «significant win» for India and the global South ,comprising mainly low-income and developing countries, the commerce and industry ministry said on Sunday.
The treaty will establish in international law a new disclosure requirement for patent applicants whose inventions are based on genetic resources and associated traditional knowledge. This will also offer added protection to Indian generic resources and traditional knowledge in countries that don't currently have disclosure obligations.
The signing of the treaty on Friday capped two decades of negotiations. It was adopted at the multilateral fora with a consensus among more than 150 countries, the ministry said in a statement.
India and the Global South--which are biodiversity hotspots with abundance of traditional knowledge and wisdom--have long been proponents of this treaty.
This is the first WIPO treaty to address the interface between intellectual property, genetic resources and traditional knowledge, the global body said in a separate statement. It is also the first WIPO treaty to include provisions specifically for indigenous peoples and local communities, the statement added. The treaty will not just safeguard and protect biodiversity but also increase transparency in the patent system and strengthen innovation, the ministry added. «With the majority of the developed countries on board, who generate IP and use these resources and
