Business and Industries

Will embark on the path of IPRs and Patents in a big way

Inadequate Progress

On 13th May 2016, the cabinet approved the National Intellectual Property Rights (IPR) Policy. It is a vision statement which aims to create synergies across different components in the IPR sector. While the IPR policy is balanced, but real progress will depend on whether it is supported by legislative reforms or not.

The BJP government also revised the Start-Up Intellectual Property Protection (SIPP) scheme and made patent filing process online, cost-effective and transparent.  Patent filings increased by 10% in the fiscal 2015-16.

Indian patent data shows that a massive 73% of the patents here are filed by foreigners and foreign entities, and only 27% ,by Indians/ Indian entities.

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