Intellectual Property Rights Continue To Be The Top Bilateral Issue

Rising from the tenth largest, India has stood as the ninth single country trading partner for the US since 2016. India and US are not supposed to let their economic differences obstruct the Indo-US ties that bound the growth of the bilateral strategic partnership. As per an official US report, the Intellectual Property Rights (IPR) remains to be one of prime bilateral trade issues between these two countries. This is due to the  inadequacy of measures for the improvement of IPR regime, reported “The Year in Trade 2016”  published by the US International Trade Commission (USITC). "IPR protection remained one of the top bilateral trade issues between the two countries," mentioned the annual report. India remained on the priority watch list in 2016 due to a lack of measurable improvement to its IPR regime, it noted. From there, economic growth of India has deteriorated to 6.8 percent in 2016 from almost 7.9 percent in 2015, said he annual report of USITC. India does not have many notable linkages to the global economy compared to China, but has made constant efforts for a drastic growth rate. It has hit a record of highest growth rate in the world in 2016. The service sectors and small manufacturing sectors form a vital part of its growth. In 2016, it has derived per capita income of USD 6,590. As a result, India's economy does not spur strong demand for imports," USITC said. In 2015, there was a rise in US merchandise trade from 1.8 to 1.9 percent. Added to this, US two-way merchandise trade with India went up by 2.2%, resulting in 67.7 billion in 2016. Even though there was a slight increase in US exports in 2016, the imports surpassed the exports. The trade deficit rose by 4.2 percent to USD 24.3 billion in 2016. India stood as the seventh largest services trading partner on the basis of two-way trade, although it remained to be the only top trading partner with US, despite having a services trade deficit, the report stated. While trade deficits have scaled down since 2014, there was again a slight rise in exports which caused US services to decline by 1.6 percent to USD 6.8 billion. Total US services trade with India grew to USD 46.7 billion approximately to 10.3 percent  in 2016, it said. There were many active WTO dispute settlement proceedings which involved India and US in 2016. India has sent requests regarding measures on non-immigrant temporary work visas during March. In July, US requested arbitration concerning importation of few agricultural products on the grounds that India fell short to implement measures into compliance within set frame of time.  In September, India sought for consultations with the US concerning alleged domestic -content elements in the renewable energy sector furnished by several US states. Finally the Dispute Settlement Body approved  the Appellate Body report and the panel report, altered by the Appellate Body report, concerning India’s purchase power agreements upon solar firms and domestic content requirements. India and the US have constantly imparted measures to improve bilateral trade and investments encompassing IPR protection. 
Saurabh Jain
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Intellectual Property Rights Continue To Be The Top Bilateral Issue

Saurabh Jain
News Article
28th Jul, 2017
Intellectual Property Rights Continue To Be The Top Bilateral Issue

Rising from the tenth largest, India has stood as the ninth single country trading partner for the US since 2016. India and US are not supposed to let their economic differences obstruct the Indo-US ties that bound the growth of the bilateral strategic partnership.

As per an official US report, the Intellectual Property Rights (IPR) remains to be one of prime bilateral trade issues between these two countries. This is due to the  inadequacy of measures for the improvement of IPR regime, reported “The Year in Trade 2016”  published by the US International Trade Commission (USITC).

"IPR protection remained one of the top bilateral trade issues between the two countries," mentioned the annual report. India remained on the priority watch list in 2016 due to a lack of measurable improvement to its IPR regime, it noted.

From there, economic growth of India has deteriorated to 6.8 percent in 2016 from almost 7.9 percent in 2015, said he annual report of USITC.

India does not have many notable linkages to the global economy compared to China, but has made constant efforts for a drastic growth rate. It has hit a record of highest growth rate in the world in 2016. The service sectors and small manufacturing sectors form a vital part of its growth. In 2016, it has derived per capita income of USD 6,590.

As a result, India's economy does not spur strong demand for imports," USITC said.

In 2015, there was a rise in US merchandise trade from 1.8 to 1.9 percent. Added to this, US two-way merchandise trade with India went up by 2.2%, resulting in 67.7 billion in 2016. Even though there was a slight increase in US exports in 2016, the imports surpassed the exports. The trade deficit rose by 4.2 percent to USD 24.3 billion in 2016.

India stood as the seventh largest services trading partner on the basis of two-way trade, although it remained to be the only top trading partner with US, despite having a services trade deficit, the report stated. While trade deficits have scaled down since 2014, there was again a slight rise in exports which caused US services to decline by 1.6 percent to USD 6.8 billion.

Total US services trade with India grew to USD 46.7 billion approximately to 10.3 percent  in 2016, it said.

There were many active WTO dispute settlement proceedings which involved India and US in 2016. India has sent requests regarding measures on non-immigrant temporary work visas during March. In July, US requested arbitration concerning importation of few agricultural products on the grounds that India fell short to implement measures into compliance within set frame of time. 

In September, India sought for consultations with the US concerning alleged domestic -content elements in the renewable energy sector furnished by several US states.

Finally the Dispute Settlement Body approved  the Appellate Body report and the panel report, altered by the Appellate Body report, concerning India’s purchase power agreements upon solar firms and domestic content requirements.

India and the US have constantly imparted measures to improve bilateral trade and investments encompassing IPR protection. 

Saurabh
Blog Author

 

One of the Co-founders, Saurabh serves as an active advisor to several SaveDesk’s portfolio companies and also works closely with them to improve business performance, select key management personnel, ensuring statutory and financial oversight and compliance supported by various agreements.Prior to SaveDesk, Saurabh spent seven years with Standard Chartered Bank commercial banking team as an associate director, where he was responsible for client management,financial analysis, portfolio management and large ticket deal’s execution in South India. Saurabh holds an MBA in Marketing from the Institute of Technology Management, and graduated with Honors degree in Electrical and Electronics Engineering from RGPV, Madhya Pradesh

 

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