Delay in TRIPS waiver costs 2 million more lives; will harm WTO's credibility, warns India

India has urged the World Trade Organisation (WTO) to end uncertainty around the Trade-Related Aspects of Intellectual Property Rights (TRIPS) waiver for COVID-19 vaccines and drugs proposal and begin text-based negotiations.

"Our indecisiveness to act swiftly on removing Intellectual Property (IP) barriers to ramp up production of COVID-19 vaccines, therapeutics and diagnostics have cost us 2 million more lives," said Brajendra Navnit, India's Ambassador to WTO, at the informal meeting of TRIPS members.

"We often hear that the WTO is losing its relevance and credibility, well, if WTO does not deliver during the pandemic on the issues and agreements for which it bears responsibility, and to think that by concluding the fisheries negotiation alone amidst these difficult times will the WTO reinstate its credibility and relevance, would be a grave mistake," the Indian envoy said.

India, along with the co-sponsors of the waiver proposal, believes the TRIPS waiver is a necessary and temporary legal measure for removing IP barriers needed to boost the production of vaccines.

A total of 63 nations, including India, are in support of the proposal at the WTO, while the United Kingdom, Australia, Singapore and countries of the European Union are in opposition. Agreements at the WTO require consensus among all 164 member states.

"Not allowing text-based negotiations will do more harm to the WTO's credibility and this collective failure will be remembered by posterity," India added.

The Indian government has said since developed nations are acquiring vaccines many times more than their domestic needs, the rest of the world might have to wait for jabs till 2023 or even 2024.

The revised draft of the proposal, which was submitted on May 23, demands the waiver be in place for three years and should be reviewed annually.

The Indian envoy also mentioned the IMF report that said the immediate investments of $50 billion by developed countries into global COVID vaccination efforts would yield around $9 trillion economic growth by 2025.

(Edited by Vivek Dubey)

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