Business & Economy

Ministers considering switch
to tougher patent regime

What is India News Service, Monday, 25 October 2004, 2000 hrs IST

A group of ministers led by Defence Minister Pranab Mukherjee on Monday will look into the country's switch to a tougher patent regime, as early as January, 2005.

But Mukherjee will have to reconcile differences that have cropped up between the Commerce Minister Kamal Nath, who is piloting the Patent (Third Amendment) Bill, and Chemicals and Steel Minister Ram Vilas Paswan, who is campaigning for availability of cheap drugs.

The political decision by the GoM will have far-reaching consequence for the Indian industry, and drugs availability and pricing. Other GoM members are Agriculture minister Sharad Pawar, Science and Technology Minister Kapil Sibal and Health Minister Anbumani Ramadoss.

It is understood that Kamal Nath wants to go whole hog with the new regime, while Mr Paswan does not want the country committed to anything beyond what the World Trade Organisation demands of India.

National biotech policy to be unveiled by Jan 2005: The minister said the government plans to extend the same benefits enjoyed by the IT sector to the biotechnology sector.

Indian FDI outflow crosses $ 5 b: The Left parties in India may still be crying foul over the UPA government's efforts to attract the foreign direct investment (FDI) to India, but they may be astonished to hear that the FDI outflow from India has crossed $ 5 billion by 2003, according to a report released by the United Nations, Unctad Investment Division.


Amara Batteries ties up with Maruti: Automotive battery manufacturer Amara Raja Batteries Ltd (ARBL), manufacturers of Amaron Batteries, has signed up with Maruti Udyog Limited (MUL) for the supply of batteries for its models. Amara Raja is expecting to supply over 100,000 batteries to the car manufacturer over the next one year.

L&T to hire 600 pros in Bangalore, Mysore: Engineering giant Larsen and Toubro Ltd on Monday said it plans to hire over 600 professionals in one year for its embedded solutions and engineering services centres at Mysore and Bangalore.

TCS announces 300 pc interim dividend: Tata Consultancy Services announced an interim dividend of 300 per cent, the first dividend payout by the Tata Group company after its listing on the National Stock Exchange and the Bombay Stock Exchange two months ago following the initial public offering.



Overall:

Air Force said it was unhappy with Mirage parts: It is asking the French manufacturers why spares are not as specified in the original deal.

BSNL cut tariff: It is also promising better network to its mobile users.

L&T will hire 600 pros: Its embedded solutions unit and engineering services are expanding.