Cabinet Approves National IPR Policy, Gives Innovation A Push

New Delhi: The Cabinet has approved the national intellectual property rights (IPR) policy with a view to promoting creativity, innovation and entrepreneurship.

The aim is to create awareness about economic, social and cultural benefits of IPRs among all sections of society,

Finance Minister Arun Jaitley on Friday said while briefing reporters about Thursday's Cabinet decisions.

The minister also let out that by 2017, the window for trademark registration will be brought down to one month.

"The policy aims to create and exploit synergies between all forms of intellectual property (IP), statutes concerned and agencies," he said.

According to Jaitley, there are seven objectives that guided the policy mechanism, which include IPR public awareness, stimulation of generation of IPRs, need for strong and effective laws and strengthening enforcement and adjudicatory mechanisms to combat infringements.

The policy also puts a premium on enhancing access to healthcare, food security and environmental protection.

It is expected to lay the future road map for intellectual property in India, besides putting in place an institutional mechanism for implementation, monitoring and review.

The idea is to incorporate global best practices in the Indian context and adapt to the same.

This policy shall weave in strengths of the government, research and development organisations, educational institutions, corporate entities, including MSMEs, start-ups and other stakeholders towards creation of an innovation-conducive environment, an official statement read.

The end product stimulates creativity and innovation across sectors as also facilitates a stable, transparent and service-oriented IPR administration in the country, it stressed.

Giving due recognition to the growing criticality of IPR in the global arena, the blueprint makes out a case for increasing its awareness in India, whether it is owned by oneself or according respect to others.

"The importance of IPRs as a marketable financial asset and economic tool also needs to be recognised. For this, domestic IP filings as also commercialisation of patents granted need to increase. Innovation and sub-optimal spending on R&D too are issues to be addressed," the statement said further.

The policy called for promotion of licensing, technology transfer, formulation of suitable guidelines to enable commercialisation of IPRs, patent pooling and cross-licensing for products and services.

It also suggested examining the feasibility of an IPR exchange, besides incentivising Indian inventors, MSMEs and start-ups to acquire and commercialise IPRs in other countries and make efforts to reduce dependency on API imports.

Commenting on the policy, Dev Robinson - National Practice Head-IPR and Partner, Shardul Amarchand Mangaldas & Co, said:

"We hope that the new policy will provide the necessary platform for innovation. Easier registration and better enforcement of IPRs would be key to such fostering."

P K Vijay, founder of Corporate Professionals, sees the policy improving ease of doing business in India for foreign companies due to "its robust IPR process".

According to the policy, the government needs to take stock of all IP funding by the Centre and suggest measures to consolidate with a view to scaling up funding, avoiding duplication, enhancing visibility of IP and innovation related funds so that utilisation goes up.

Further, the administration of the Copyright Act and the Semiconductor Integrated Circuits Layout-Design Act will now be under the administrative control of the Department of Industrial Policy and Promotion (DIPP).

It will lead to synergetic linkage between various IP offices under one umbrella, streamlining of processes and ensuring better services to users.

To facilitate promotion, creation and commercialisation of IP assets, a Cell for IPR Promotion and Management (CIPAM) should be constituted under the aegis of DIPP, it suggested.

The policy will be reviewed after every five years.

On the apprehensions that the government may yield to the pressure of developed countries with regard to its IR regime, an official said: "India will never go beyond its current commitments in TRIPS. Section 3 (d), patent linkage, data exclusivity and compulsory licensing are red lines."

 

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)