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Indo-Swiss pact on IPRs on anvil

Economic Times (India) | 5 Aug, 2007

Indo-Swiss pact on IPRs on anvil

NEW DELHI: India is likely to sign an agreement with Switzerland on intellectual property rights (IPRs) to improve the bilateral economic cooperation with Switzerland.

"A memorandum of understanding between India and Switzerland on Intellectual Property Rights is on the anvil during the forthcoming visit of Swiss Federal Counsellor and Minister of Economic Affairs, Doris Leuthard to India", an official statement said on Sunday.

The visiting Minister is also expected to discuss on the framework conditions for Swiss business in India with Commerce and Industry Minister Kamal Nath.

The proposed MoU is on the backdrop of increasing Indo-Swiss trade where it has increased by about 30 per cent during 2006-07 over the previous year. Switzerland ranks 16th in the comparative list of countries for FDI approvals and 10th in the cumulative FDI inflows.

India exports gems and jewellery, drugs, pharmaceuticals, machinery and instruments to Switzerland while the imports consist of gold, machinery and medicinal products.

The foreign direct investment (FDI) is crossing more than $1.11 billion during 1991 to 2006, release added. Fuels, telecommunications, chemicals and metallurgical industries are the sectors which attracts FDI from Switzerland.

 source: Economic Times