New Delhi: India has recorded 572 per cent growth in grant of patents in last 7 years and 28,391 patents were granted in 2020-21 as compared to 4,227 grants during 2013-14. Also, 14.2 lakh trademark registrations were done in 4 years (2016-2020) in comparison to 11 lakh during 75 years (1940-2015), while the country’s ranking in Global Innovation Index jumped to 48th in 2020, (+33 ranks from 81st in 2015-16).
“Powered by Intellectual Property, India can be the ‘Innovation Powerhouse’ of the world,” Minister of Commerce and Industry, Consumer Affairs & Food & Public Distribution and Textiles Piyush Goyal said today at the National Intellectual Property Awards 2020 function here today.
The Minister said Intellectual Property Rights actually translates into India’s progress in real-time and extend Intellectual Property Right to India’s Prosperity Right. He said, the aim must be to make India the “Design hub of World”. According to him, technology and ideas are the twin engines of growth and Intellectual Property Rights is the fuel that powers them.
While mentioning that IP had the power and potential to change lives and create livelihoods for billions, he said, “We recognise IP as one of the most valuable assets in India’s ability to compete in global economy”.
He stressed that IP Rights must ensure whoever invents in India is not only protected but guaranteed to prosper. A strong IPR regime will empower the expansion & energize the industry in challenging times, he said and added that one major initiative in this direction had been – National IPR Policy for “Creative India, Innovative India”. He said other key initiatives were Fee Concessions like 10% rebate on online filing, 80% fee concession for Start-ups and Small Entities. The Minister said that IPR filing procedures were now more compact, time-bound, user-friendly & compatible for e-transactions. He said that comprehensive e-Filing facility, Electronic processing of Patents & Trademarks applications, were bringing transparency and ease of access for those IPR seekers.
– global bihari bureau
