This paper attempts an evaluation of certain aspects of the working of the Indian patent system as embodied in the Act of 1970. It places the Indian patent system in the context of the global patent scenario; it also discusses the relative strengths and weaknesses of the system in respect of its encouragement of innovation and competitive process. The cases of biotechnology and pharmaceuticals have been taken up to highlight the position. The necessity of a rationally constructed innovation system for overcoming the lacklustre performance of the Indian patent system emerges out of the study.
