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2021-09-05

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Economy
www.thehindu.com

Common cause:In May, 62 nations including India, South Africa and Indonesia sent in a revised proposal.Reuters  

India has pitched for an early outcome of the TRIPS waiver proposal for COVID-19 vaccines, therapeutics and diagnostics in the World Trade Organisation (WTO), the government said in a release on Saturday.

Addressing a meeting attended by trade and economic ministers of BRICS countries on Friday, Commerce and Industry Minister Piyush Goyal also stressed on finding a permanent, adequate and equitable solution to the public stock holding programmes for food security purposes.

The minister emphasised “the need for a permanent, adequate and equitable solution to the Public Stock Holding programmes for food security purposes; early outcome of the TRIPS Waiver proposal for vaccines,” the government said.

In October 2020, India and South Africa had submitted the first proposal, suggesting a waiver for all WTO members on the implementation of certain provisions of the TRIPs Agreement in relation to the prevention, containment or treatment of COVID-19.

In May this year, a revised proposal was submitted by 62 co-sponsors, including India, South Africa, and Indonesia. Mr. Goyal also said the BRICS countries should work together for strengthening the multilateral system, stating that there was a need for a balanced and inclusive outcome in the forthcoming WTO Ministerial Conference.

“In this era of exponential jump in the use of e-commerce... a common action plan among BRICS countries will help,” it said.


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