India

Livemint | English | News | Dec. 20, 2024 | Geopolitical Conflict and Disputes

China is ready to collaborate with India to restore stable bilateral relations ahead of a meeting between India's National Security Advisor Ajit Doval and Chinese Foreign Minister Wang Yi in Beijing. The Chinese Foreign Ministry highlighted the need to implement mutual understandings between their leaders to strengthen ties and build trust through dialogue.

Doval is in Beijing for the 23rd round of the India-China Special Representatives talks, focusing on key issues such as maintaining peace along the border and addressing the longstanding boundary dispute. The Indian Ministry of External Affairs stated that the talks will aim for a fair and mutually acceptable solution to the boundary question, marking the first dialogue in five years after tensions over eastern Ladakh.

The revival of the Special Representatives dialogue followed a meeting between Indian Prime Minister Narendra Modi and Chinese President Xi Jinping in Kazan, which occurred after both countries agreed to a disengagement pact in eastern Ladakh. The last dialogue took place in December 2019, with the two officials last meeting on September 12 in St Petersburg, Russia.

Hindu Business Line | English | News | Dec. 20, 2024 | UndeterminedTrade Issues and Numbers

India's major steel producers are advocating for safeguard duties on the import of hot rolled (HR) and cold rolled (CR) steel coils. This could negatively impact over 10,000 small rolling mills that depend on affordable imports to remain competitive. The Global Trade and Research Initiative (GTRI) warns that this shift may consolidate the rolling business among larger firms with limited benefits for India's overall steel output.

The Steel Ministry has asked the Commerce Department to evaluate these duties. Commerce Secretary Sunil Barthwal noted that the Directorate General of Trade Remedies (DGTR) is examining the potential effects on HR and CR coil imports and the needs of downstream industries. Safeguard measures could impose temporary import restrictions through increased duties if domestic industries face significant harm from rising imports.

The implications extend to downstream sectors like automotive and appliance manufacturing, which depend on low-cost coils. Increased prices from these duties could weaken these industries, reduce exports, and adversely affect the economy. India's steel production data shows a need for imports, as the country produced 139.15 million tonnes in FY24 against a consumption of 136.29 million tonnes, leaving little room for excess production.

Moreover, imports account for only 6% of domestic steel production, mostly benefiting larger firms that need raw materials and specialized products. The proposed duties could worsen existing inequities, jeopardize small rolling mills, and undermine the competitiveness of downstream industries, complicating an already challenged steel sector.

RNA Technology and IP Attorneys | English | AcademicThink | Dec. 20, 2024 | UndeterminedLegal Exposure

AstraZeneca has filed a lawsuit against Westcoast Pharmaceutical Works Limited in the Delhi High Court for patent infringement concerning Osimertinib, a drug used to treat specific types of non-small cell lung cancer. The lawsuit was prompted by AstraZeneca's discovery in January 2022 that Westcoast intended to manufacture and sell the compound. An ex parte ad-interim injunction was issued on February 11, 2022, which became absolute on November 30, 2022, after Westcoast did not respond.

Westcoast contended they believed they had regulatory approval, mistakenly thinking Osimertinib was not patented in India. They also argued there is no means to verify patent protection during regulatory licensing and claimed they only issued a promotional flyer without actual manufacturing plans. Additionally, they raised jurisdictional objections and stated they would not infringe during the patent's term. AstraZeneca sought a summary judgment, highlighting Westcoast's lack of credible defense.

The court recognized Westcoast's history of infringement, citing previous litigation involving AstraZeneca's Dapagliflozin. AstraZeneca faced substantial legal expenses of 719,145 due to Westcoast's actions. The court emphasized the necessity for realistic cost awards to deter frivolous lawsuits. Ultimately, the ruling favored AstraZeneca, awarding costs of 700,000 (approximately $8,300) while taking into account Westcoast's conduct throughout the case.