Answer:

Introduction:

India, a country replete with rich traditional medicinal knowledge, faces a significant task in safeguarding this wealth from misappropriation and unwarranted patenting, particularly by foreign pharmaceutical entities. The Indian Government, cognizant of this challenge, has launched various initiatives to secure these invaluable resources while promoting their beneficial use.

Body:

• Traditional Knowledge Digital Library (TKDL): The TKDL, a compendium of over 200,000 medicinal formulations, deters unjust patent claims.
• For instance, India contested and invalidated a Spanish firm Sesderma S.L’s patent on a wound-healing product at the European Patent Office in 2011, citing TKDL as proof of prior knowledge.
• Amendment of Patent Law: Amendments to the Indian Patent Act, particularly in 2005, bar patents on traditional knowledge and non-novel inventions.
• This revision played a pivotal role in rejecting a patent application by a US-based entity on the use of turmeric for wound healing, citing lack of novelty and inventive step.
• International Cooperation: India collaborates globally to protect traditional knowledge, like participating in WIPO’s Intergovernmental Committee, contributing to international legal frameworks safeguarding traditional knowledge.
• National Biodiversity Act (2002): This Act, by requiring National Biodiversity Authority approval for exploiting Indian biological resources, ensures equitable sharing of benefits.
• An Australian company seeking to use Indian chickpeas for developing a novel variety was held accountable under this Act, highlighting its importance.

Conclusion:

The Indian Government, through these strategic initiatives, displays a strong commitment to preserving the country’s traditional medicinal knowledge. It’s an ongoing endeavour that must keep pace with the dynamic world of intellectual property rights, constantly adapting to effectively avert misappropriation and promote fair usage of India’s traditional knowledge wealth.