India celebrates its first WIPO treaty

New Delhi: India has hailed the first World Intellectual Property Organization (WIPO) Treaty on Intellectual Property (IP), Genetic Resources (GR), and Associated Traditional Knowledge (ATK) “as marking the start of a journey to achieve collective growth and deliver the promise of a sustainable future.”

Adopted on May 24, the treaty followed a diplomatic conference held at the WIPO headquarters in Geneva from 13th May, where representatives from 192 countries and 86 observer organizations gathered.

“For the first time, the system of knowledge and wisdom which have supported economies, societies and cultures for centuries are now inscribed into the global IP system,” India’s Ministry of Commerce and Industry said in a statement.

“The treaty will enter into force three months after 15 countries have ratified it or acceded to it,” WIPO stated.

“Across the ages and around the world, people have depended on genetic resources in their environment to improve their lives,” WIPO added.

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India WIPO treaty