TRIPS

It is understood that the EU is demanding measures that go beyond TRIPS, and would affect the viability of low priced generic medicines in the country. EU is also seeking accelerated access to Indian markets particularly diary and agri-business that could jeopardize livelihood among farmers, fisherfolk and small businesses. The investment and financial services obligations being demanded by the EU would have detrimental effects on domestic industry, result in giant retail chains pushing out small vendors and trades people, compromise the Government’s ability to direct credit into required areas and destabilize India’s financial sector at a time when the world is going through its worst financial crisis in recent memory.