Yusuf Hamied

India made a big mistake by signing up to TRIPS. With a population of 1.3 billion, India can't afford a monopoly in healthcare. Monopolies lead to higher prices and we can't allow them in a country like India with so much poverty and misery. It was like signing our own death warrant.

Well, there's no question that the law passed in 1996 was flawed. It deregulated the wholesale market, meaning the price that the utilities had to pay energy companies for power, but not the retail market.