| Subject: |
Cut duty on generics, US tells India |
|
NEW DELHI: The US on Tuesday said making drugs affordable went beyond tough patent rules and Indian government could help the cause by cutting import duty on several generic medicines, which faced 21% customs duty.
"There is a list of medicines which are off-patent for 100 years and face 21% tariff. Eliminating the tariff will help access to affordable medicines," US Trade Representative Michael Froman told reporters, adding that several factors, including distribution, insurance and logistics, went into making healthcare affordable.
Froman's comments came after the first meeting of the India-US Trade Policy Forum in four years, even as Indian officials chose to stay silent on the talks. As reported by TOI on Tuesday, the two countries agreed to intensify the dialogue on trade in farm products such as mangoes, pomegranates and almonds. They have also agreed to "continue their engagement on visa issues", including access to Indian professionals, something that will cheer the IT industry.
Another boost came in the form of positive signals on a Totalization Agreement that will help software professionals secure their social security contributions in the US, which they currently lose out on. But, there was little gains from the renewal of dialogue, although Froman said the two countries had decided to prepare a detailed work programme for 2015.
He, however, remained critical of the government's mandatory sourcing norms and the plan to issue compulsory licence, in other words waive patent rights, under the New Manufacturing Policy, arguing that it is a little hard to extend the compulsory licensing debate to the manufacturing sector.
But, the USTR did acknowledge the "palpable change" in the mood of international business community towards India after the new government led by Narendra Modi came to power. "There seems to be a quite palpable change in mood here among government officials, among business people, both foreign and domestic, and in the international business community. There is a great deal of interest in India," he said.
Source : timesofindia.indiatimes.com
|