Com Min to soon seek Cabinet nod for new IPR policy

The Commerce and Industry Ministry is expected to soon approach the Cabinet for its nod for the proposed National Intellectual Property Rights (IPR) policy.
Commerce and Industry Minister Nirmala Sitharaman said: "It is certainly, and it shall go to the Cabinet for its approval."
She said the Cabinet approval of the new policy should not be linked to Prime Minister Narendra Modi's visit to the US.
"... If it happens coincidently before the Prime Minister's visit, (then) very well," she told reporters here.
A government-appointed think-tank on IPR is preparing the draft policy, which seeks to encourage innovation by providing tax incentives and modifying intellectual property rights.

The national IPR policy has been formulated with a mission to foster innovation, accelerate economic growth, employment and entrepreneurship, besides protecting public health, food security and environment, among other areas of socio-economic importance.

On the release of ranking of states on 'ease of doing business', she said the World Bank together with a professional agency is dealing in this issue.
"The government gave its inputs. The ranking is being done by them and I am given to understand that it will be (announced) sooner rather than later. Maybe, this week sometime when the rankings will be out," Sitharaman said.
The main objective of this exercise is to promote competitiveness among states to attract investments.

India is currently ranked 142 among 189 nations in the World Bank's 'Ease of Doing Business 2015' study. With the exception of two parameters (getting credit and protecting minority investors), India does not feature in the top 100 in the remaining parameters.
All these efforts are aimed at bringing India into the top 50 in terms of ease of doing business in the next three years.
An improved ranking will help in attracting both domestic and foreign investments.
On today's Cabinet decision on FDI policy relaxation on white-label ATMs, she said it is a positive step and it will help in promoting financial inclusion.

"This is the right decision to take at this stage," she said.
On the decision on least developed countries, she said giving preferential treatment to LDCs is a commitment that India has always made.
"Extending these kinds of benefits to them (LDCs) shows that India definitely believes in and is committed to the principles of equal development," she added.