“We are very concerned about the innovation and the investment environment in India at the moment,” Mike Froman, the National Deputy Security Advisor on economic policies to President Barack Obama, told lawmakers on Thursday.
According to Froman, issues related to compulsory licensing, patents, market access, and localization are very prevalent in India. He referred to the recent Indian policies that American businessmen have termed detrimental to the India-US ties.
Senator Orrin Hatch emphasized that India is gradually forcing the US companies to take an exit from its markets by strategically introducing destructive strategies.
“For example, I am very disturbed by India’s recent decision to issue a compulsory license for an important medicine on entirely specious grounds. Also, counterfeiting and piracy continue to be rampant in India and the government’s IPR enforcement efforts remain weak,” Hatch said.