Comm Min may 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 the new IPR policy, which is yet to be approved by the Cabinet, "will ensure Indian patents are protected, Indian designs are protected, Indian copyrights are taken care of".

She said that through the policy, the ministry would ensure patents shall not be expensive to register and not beyond SMEs.

She was speaking at an award function 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 the 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 country's exports, the minister said the government is taking steps to boost shipments.

She pointed to sluggishness in the global demand.

"Let me tell you (exporters), when we go out in meetings with the multilateral or bi-lateral negotiations, everyone would say it is sluggish, it is going to pick up, there's not that sense of despair," she said.

She added that the world is looking at India as huge opportunities exist here.