To what extent, the IPR policy of India is able to strike a balance between protection of interests of humanity in large, boosting innovation and upholding the Intellectual Property Rights? Critically discuss.

India’s IPR policy with a tagline Creative India: Innovative India is a vision document that aims to create and exploit synergies between all forms of intellectual property (IP), concerned statutes and agencies.
The objectives of the policy include

• To increase public awarenessabout IPR and their economic, social and cultural benefits.
• To stimulate creation of IPR in the country.
• To create a strong legal and legislative framework around IPR.
• To modernize administration and management of IPR
• To promote commercialisation of IPR.
• To strengthen enforcement and adjudication mechanism around IPR
• To expand Human Capital Development.

The policy strives to strike a balance between innovation and protecting the interests of underprivileged by:

• By mandating time bound clearance of applications.
• Calling for rectifying the anomalies in various laws.
• It retains the India’s right for compulsory licensing of drugs.
• By retaining section 3(d) of patents act which is against evergreening of patents.
• Not considering any provisions of data exclusivity.

But the policy has some drawbacks in striking a balance between innovation and interests of under privileged because:

• The policy equates IPR generation as Innovation.
• Emphasizing on the commercialization of IPRs will act as a deterrent for start-ups and even increase the cost of the products.
• The policy doesn’t mention mechanisms to protect the traditional knowledge and heritages of tribal are which are being exploited by outsiders.

Thus, IPR policy of India shows an attempt to strike a balance between protection of interests of humanity in large, boosting innovation and upholding the IPRs.