There have been four types of proposed amendments to the Indian Patent legislation and their implications for the Indian economy and society. First, amendments to the Indian Patent Act of 1970 are needed to be carried out by 2005 in order to conform to the International Patent Regime prescribed by the World Trade Organisation. Secondly, some transitional amendments are required by the TRIPS agreement, which overhaul the patent system. Third, a proposed bill is to be prepared on bio-diversity which will give effect to the international agreement on bio-diversity that was signed in 1992. The rules on bio-diversity and plant breeders' right are likely to be discussed in the coming session of the Parliament.

The debate on intellectual property and the role of patents is disseminating or obstructing information has raised many questions, which are unanswered. Information is not marketable until revealed, as its value is not known prior to revelation, while consumer's willingness to pay can be concealed after revelation of the information. Further it is extremely difficult to segregate between information flows, as there are multitude of potential paths leading to the same conclusion. The TRIPS takeover of the World Intellectual Property Organisation is not the first time that international bodies has been supplanted to make room for the world economic Trinity--holy or unholy--of Fund, Bank and WTO. There have been complains about piracy. But there has also been no attempt to reconcile the two conflicting approaches of the Convention of bio-diversity at Rio and TRIPS. If diversity is so important for sustaining life how can WTO demand conformity to standardised global formats?

Questions have been raised as to how far this patent regime would allow effective competition or dissemination of information. Some have taken the view that it departs from the competitive ideals and further restricts the access of the poor countries to technology. While the main thrust of GATT negotiation in the past had been against protection of domestic industries by way of tariff or quota restrictions, TRIPS is by its very nature a protective arrangement. While USA see patents as a matter of individual right, the rights while providing incentive to invent grant a monopoly and gives rise to monopoly prices. Products are often patented to keep rivals away from the field. The regime is also having differential impact on more or less developed countries. Given that an overwhelming proportion of patents originates in the developed world, Patent protection is likely to lead a transfer of income from the less developed to the more developed countries. and, thereby , to widen income disparities between the two.

Patent legislation has a long history in India. Beginning in 1856, the Indian Patent Law has been revised a number of times. One major change introduced by the TRIPS agreement has been in relation to product and process patents. In Indian legislation a difference is made between the two. Another controversial provision of the TRIPS has been to reverse the burden of proof: it is for the defendant to prove that a process other than the patented one has produced an identical product. Thirdly, under the Indian Patent law the maximum period for which patent law can be exercised is 14 years. Now the TRIPS have made it uniform and universal at 20 years. Fourthly, while life forms are not patentable under 1970 law, it now would have to provide patent protection for the plant and animal varieties. The process of stealing and plundering of the biological wealth of the third world countries by the multinational firms originating in the West has come to be known as bio-piracy. The most talked about case of bio-piracy has been patenting the neem tree, which is a part of the Indian culture. Same is true for basmati rice variety.