Union Commerce and Industries Minister Piyush Goyal vehemently denied today that Indian pharmaceutical corporations illegally steal foreign patents, calling the accusations baseless.

In response to inquiries from the media in Bern, Goyal described the assertions as “myths” devoid of any supporting evidence. Give me an example of a time when we have unlawfully replicated any patents, trademarks, or copyrighted technologies. Not one has been shown.

India respects intellectual property rights and never steals technology from others, according to Commerce and Industry Minister Piyush Goyal, who dismissed claims on Tuesday that Indian pharmaceutical companies replicate Swiss companies’ products.

Swiss pharmaceutical businesses, he continued, have not demonstrated in the slightest that Indian companies have unlawfully reproduced any of their patents, trademarks, or copyrighted technology.

“I didn’t see a single one. When asked about the objections of Swiss pharmaceutical companies over the matter, Goyal responded, “This is a myth which has been propagated for years.India respects intellectual property rights (IPRs) a great deal. India is renowned for never, ever stealing another person’s technology, and it is highly aware of its duties.”

He stated that the ever-greening of patents is not permitted in India.Unfortunately, a small number of businesses or players attempt to obtain a longer patent life by making very slight changes.

Even the Swiss people are now deprived of access to reasonably priced healthcare because of this. Pharmaceutical products are the result of this. R&D and innovation funds have been recovered even beyond the patent period during which profits have been produced. “Billions of people worldwide, not just in Switzerland, are losing out when you do such ever-greening,” Goyal stated.

The minister added that Swiss pharmaceutical industries fully comprehend and support the trade deal between India and EFTA.

“I have adopted several of their fantastic recommendations in India. I have gained their trust, and I have no doubt that in the years to come, pharmaceutical companies from Switzerland, the EFTA nations, and other European and American nations will collaborate with India as partners and benefit from the sizeable 1.4 billion Indian market. With an affordable product, they will be able to enter international markets, not only to increase profits but also to benefit humanity, Goyal stated.

According to him, India has successfully enhanced its intellectual property rights procedures, lessened the burden of compliance, and expedited the clearance procedures.”Not a single instance of wrongdoing was brought to our attention by any pharma company,” he stated. He went on to say that pharmaceutical companies worldwide have a lot of chances in the Indian market.

Additionally, the pharmaceutical corporations have told me that they are not considering evergreening patents. Therefore, I do not believe that there was any miscommunication between the pharmaceutical corporations, the governments of the EFTA nations, or the UK and India,” he stated.

Iceland, Liechtenstein, Norway, and Switzerland are members of the European Free Trade Association (EFTA).

Goyal praised Swiss pharmaceutical executives for their helpful contributions as he looked to the implementation of the EFTA trade agreement. “By offering high-quality, affordable products, they will not only boost their profits but also serve humanity,” he said, expressing optimism that European and American corporations can achieve both financial success and a wider global influence with mutual trust and India’s 1.4 billion-strong market.