-The Economic Times A growing number of countries are adopting India's intellectual property regulations, which give enough flexibility to local companies to produce generic versions of popular drugs to safeguard public health. Although multinational companies have criticised India for being lax in enforcing intellectual property (IP) laws, countries such as China, Argentina and the Philippines are adopting similar provisions. Last month, China amended its IP laws, allowing local companies to produce low-cost versions...

RIO DE JANEIRO: Making a strong pitch for removing poverty in India and reminding the developed world of its commitment to sustainable development, Prime Minister Manmohan Singh on Thursday called for setting up a global system that allows each country to develop according to its own priorities. "For developing countries, inclusive growth and a rapid increase in per capita income levels are development imperatives," the Prime Minister said in his...

Several studies in India have shown that more than 40 per cent of foodgrain meant for the poor is pilfered on the way. In order to ensure that food reaches the needy and the hungry across the country, the government has launched a series of steps to streamline the public distribution system (PDS). Among several initiatives being planned, especially in the light of the National Food Security Act under preparation, a...

People with income below taxable limit need not furnish Permanent Account Number (PAN), the Karnataka High Court ruled. The High Court order came as a relief to thousands of individuals who are asked to provide PAN despite having income below the taxable limit. Section 206 AA of the Income-Tax Act, which became effective from assessment year 2010-11, makes it mandatory for every person to furnish PAN in their transactions with...

A compromise formula aimed at breaking the deadlock between teachers and HRD minister Kapil Sibal over admissions to the Indian Institutes of Technology (IITs) could end up hurting hundreds of thousands of aspiring students. Under the new formula, only the top 20% students in their respective class 12 board exams would be eligible for appearing in the IIT entrance exam, top government and IIT sources told HT. The compromise was brokered by...