NEW DELHI: India and the United States oct.7 agreed to evolve a mutually satisfactory solution on issues like intellectual property rights which would protect this country’s essential concern and national objectives.
U.S trade representative, Carla Hills in her discussions with Prime Minister PV Narasimha Rao, Finance Minister Dr. Manmohan Singh and Commerce Minister P Chidambaram, agreed that the success of the Uruguay round of Gatt negotiations was vital for the growth of world trade.
Finance Minister apprised Hills of the re- cent policy reforms here and stressed that enlarged access to the markets of developed countries would create a favorable inter- national environment for the success of the structural reforms here.
During the hour-long meeting with Dr. Singh, Hills appreciated the economic reforms introduced by India in recent months and pointed out those countries with liberalized trade and industrial policies have made faster economic growth.
Hills old journalists it would be in India’s interest to accept the American point of view on the issue of Intellectual Property Rights (IPRS) and hoped an agreement would be reached soon on it obviating the need for retaliatory action under special 301 provisions of the U. S trade act.
Article extracted from this publication >> October 11, 1991
