Friday, September 2 2005 15:14 Hrs (IST) - World Time -

Bangalore: After saying 'no' for nearly a decade, the United States has agreed to an Indo-US Science and Technology Umbrella Agreement that also deals with the vexed Intellectual Property (IP) issues over which Washington had reservations for long.

Union Minister for Science and Technology Kapil Sibal is slated to visit the US next month to ink the pact, which 'settles all IP issues'.

"In the last ten years, we (India and the US) were not able to agree because the US wanted particular way with IP issues", Sibal told a seminar on science and technology opportunities and Indo-US relations, organized by Obsever Research Foundation, a non-Government public policy think tank.

"Now, we have agreed on the language with regard to IP issues and we are going to execute the agreement", he later told reporters.

"It's a great step forward because with this umbrella agreement, we will be able to cooperate with the US in all levels of scientific activity from our end, it's product development".

It's a win-win situation benefiting both the countries, the Minister said.

Asked 'what's that we (India) give (to the US) and what's that we get' vis-a-vis the agreement, Sibal said, "When you learn about it (the agreement), you will find that give & take is as much on our side as on their's".

The agreement would enable India to 'quicken up' the process of getting the US to cooperate in areas of nano-technology and biotechnology, while India can offer to Washington its fast-breeder technology, he said.