Summary:
Union Minister of Commerce & Industry, Mr. Piyush Goyal, underscored the critical role of innovation in India's progress towards becoming a developed nation during the National Intellectual Property (IP) Awards 2024, held at Bharat Mandapam, New Delhi. These prestigious awards celebrate excellence in IP creation and commercialisation, contributing to the strengthening of India's IP ecosystem. Mr. Goyal reaffirmed the government's dedication to enhancing intellectual property rights through legislative updates, administrative reforms and technological advancements. He advocated for the use of artificial intelligence (AI) and data analytics in trademark searches, emphasized stronger copyright protections and highlighted the establishment of specialized IP benches in High Courts. Additionally, he announced that the Anusandhan National Research Foundation (NRF) would facilitate scientific research and promote collaborations among public, private and academic sectors.
India's remarkable progress in global IP rankings was also acknowledged, with the country advancing from 81st place in 2015 to 39th in the Global Innovation Index. Ranking sixth globally in trademark filings, India granted around 1,00,000 patents last year. To foster wider participation, the government has reduced IP fees by 80% for women entrepreneurs, startups and micro, small & medium enterprises (MSMEs). Digital initiatives have further streamlined trademark and patent application processes, with the recruitment of 400 additional patent examiners speeding up application reviews. Operational efficiency will be further enhanced by the newly opened IP office in Dwarka, Gujarat, which accommodates over 750 officers. Commending grassroots innovation programs like Atal Tinkering Labs, Mr. Goyal reaffirmed India's commitment to inclusive scientific advancement. The National IP Awards 2024 recognised exceptional contributions from individuals, academic institutions, startups and corporations across 13 categories, reflecting the nation's growing stature as a global leader in innovation.
Source: IBEF
Disclaimer:
The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness and usefulness