International Trade & IPR Conference 2020

The idea of trade, and what makes trade valuable for societies, has evolved beyond simply shipping goods across borders. Innovation, creativity and branding represent a large amount of the value that changes hands in international trade today. How to enhance this value and how to facilitate the flow of knowledge rich goods and services across borders have become integral considerations in development and trade policy. In the industrial age, the economic, political, and social significance of international trade has been theorized. The significant rise in the international trade is essential for the growth of globalization.

The Indian Government’s favorable policy regime and robust business environment has ensured that foreign capital keeps flowing into the country. The Government of India has taken many initiatives in recent years such as relaxing FDI norms across sectors such as defense, PSU oil refineries, telecom, power exchanges, and stock exchanges, among others. Apart from being a critical driver of economic growth, Foreign Direct Investment (FDI) has been a major non-debt financial resource for the economic development of India. Foreign companies invest in India to take advantage of relatively lower wages, special investment privileges like tax exemptions, etc. For a country where foreign investment is being made, it also means achieving technical know-how and generating employment.

The integration of domestic economy through the twin channels of trade and capital flows has seen acceleration over the last two decades as India’s GDP reached INR 203.39 lakh crore (US$ 2.88 trillion) in 2019-20. India’s trade and external sector had a significant impact on the GDP growth as well as expansion in per capita income.

Total export from India (Merchandise and Services) stood at US$ 528.45 billion in 2019-20, while total import was estimated at US$ 598.61 billion according to data from the Ministry of Commerce and Industry. Merchandise export stood at US$ 314.31 billion in 2019-20, while merchandise import touched US$ 467.19 billion in the same period. The estimated value of services export and import for 2019-20 stood at US$ 214.14 billion and US$ 131.41 billion, respectively. India registered a trade surplus of US$ 11.70 billion for the first time in almost 18 years.

The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international legal agreement between all the member nations of the World Trade Organization (WTO). TRIPS Agreement plays a critical role in facilitating trade in knowledge and creativity, in resolving trade disputes over intellectual property, and in assuring WTO members the latitude to achieve their domestic objectives. The Agreement is a legal recognition of the significance of links between intellectual property and trade. The TRIPS Agreement has an additional important general objective that is intellectual property protection should contribute to technical innovation and the transfer of technology. Both producers and users should benefit, and economic and social welfare should be enhanced, the TRIPS Agreement says.

Intellectual Property, (IP) refers to creations of the mind. These creations can take many different forms; such as artistic expressions, signs, symbol and names used in commerce, designs and inventions. Governments grant creators the right to prevent others from using their inventions, designs or other creation and to use that right to negotiate payment in return for others using them.

Tamil Nadu Technology Development and Promotion Center (TNTDPC), an autonomous society of Confederation of Indian Industry (CII); and Intellectual’s Society of Entrepreneurship and Research Development (ISERDIndia) is planning to jointly organize an International Trade and IPR Conference 2020, in order to promote the importance of international organizations and  its relevance of promoting multilateral trade agreements such as TRIPS (Trade related aspects of Intellectual Property Rights) with an equal importance to the Intellectual Property Rights (IPR) and its need in the interconnected economies. The conference will also focus on the role of Ministry of Trade and Commerce, Government of India in jointly working with Department for Promotion of Industry and Internal Trade (DPIIT) in order to promote the Ease of Doing Business (EoDB) for MSME’s and other small ventures with an equal importance being given to relevance of IPR in India. Also, the conference should be able to focus on the role of Foreign Direct Investments (FDI’s) in promoting the industry and production in the country in order to fulfil the Prime Ministers’ aim of India being self- reliant (aatma- nirbharta); promoting the true sense of creativity and innovation among Indian youth and motivating them to set up production units inside the country thus also focusing on how to safeguard their ideas, designs and creativity through IPR.