Discussion
In Indian context TRIPS will have its greatest impact on :
Answer: C
TRIPS has its greatest impact on pharmaceuticals.
Under the Patents Act, 1970, India granted only process patents for medicines, so Indian firms could legally make cheaper versions of drugs patented abroad by developing a different process. The WTO's Agreement on Trade-Related Aspects of Intellectual Property Rights required product patents for pharmaceuticals, which India introduced through the Patents (Amendment) Act, 2005. This ended the copying of newly patented medicines and changed the business model of the Indian generic industry.
The automobile, banking and insurance, and aviation sectors are affected by trade and investment rules, but intellectual property rules do not alter them in anything like the same way.
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