INDIAN INFLOW - THE INTERPLAY OF FOREIGN-INVESTMENT AND INTELLECTUAL PROPERTY

There remains no doubt in the minds of investors that India midst be i n their future. As one of the few untapped markets, with its ever expl oding consumer base, its highly and technically skilled workforce, and its low standard of living, much opportunity awaits those willing to bear burdens and overcome hurdles. Along with these opportunities come s weak intellectual property laws and political bureaucracy second to none. The debate rages on whether India must immediately update its in tellectual property laws to ensure the inflow of foreign investment an d its accompanying development. Relentless pressure on the part of ind ustrialised nations may occasion India to forgo the mutually agreed up on year 2005 deadline negotiated into the Agreement on Trade Related A spects of Intellectual Property. However, it remains unclear whether t he Western basis behind intellectual property laws is valid for India, or even whether India's lax laws affect foreign investment to arty si gnificant extent. The author sets out the progression of these laws; i n terms of cultural, political and socio-economic factors, brings out the ultimate concern-what is in the best interests of India and Indian s, sets out the changes that are currently underway in terms of legisl ation, and finally discusses whether the intellectual property laws re ally are a major determinant in decisions to invest in India. He concl udes that India's intellectual property, laws are at best a minor fact or in the decision making process and have had an insignificant effect on the actual flow of foreign investment into India. As such, the aut hor urges for the gradual implementation of more stringent intellectua l property laws, consistent with TRIPS, to attenuate to the year 2005.