Govt to launch Intellectual Property Rights policy within two months
In a move to address foreign investors’ concern and attract funding for innovation, the government on Monday said that it will come up with a completely new Intellectual Property Rights (IPR) policy within the next couple of months. “We have constituted a taskforce to work on the IPR regimes. They have given their recommendations. India, in the next two months, will be coming up with a completely new and one of the finest IPR policies in the world,” Department of Industrial Policy & Promotion (DIPP) Secretary Amitabh Kant said at the “Indo-German Business Roundtable” conference on Monday. His comment came after German business delegation highlighted some of their major concerns, including India’s complex customs clearance process, unavailability of technical workforce, delays in implementation of the Goods and Services Tax (GST) and red-tape in investment. German investors also pointed out the country’s poor infrastructure as a major roadblock. “Even if we ship our product on schedule, it will not be delivered to customers in time due to poor infrastructure,” one of the German businesswomen said who was also present during the conference. Recently, Germany, the US and several other developed countries have expressed concerns over Indian IPR laws. The policy, once launched, will also encourage innovation and entrepreneurship in the country. With the new IPR, the government envisages to create an environment for protecting intellectual property of investors at legislative and policy level. It also focuses on improving service delivery, enhancing infrastructure and using modern technology in the functioning of intellectual property offices in the country. The roundtable conference, organised by the Federation of Indian Chambers of Commerce and Industries (FICCI), Confederation of Indian Industries (CII) and the Indo-German Chamber of Commerce, was aimed at discussing India’s industries’ potential, ‘Smart Cities’ programme and German investments in the ‘Make in India’ initiative.
October 06, 2015 | 2:57pm IST.
to success.