New Delhi: The government will double the manpower for processing Intellectual Property (IP) applications, and the process will be streamlined and made more transparent, Commerce Industry Minister Piyush Goyal said on Friday.
Speaking at an event themed National Intellectual Property Conference 2023: Nurturing Growth of IP for Knowledge Economy in New Delhi on Friday, the minister announced plans for a 100% digitalisation of the office of the Controller General of Patents, Designs, and Trade Marks for enhanced efficiency.
Goyal emphasised the importance of transparency in the IP system and reduced fees for applicants, particularly for women entrepreneurs, micro and small units, and academic institutions.
Intellectual Property: Indias Innovation Powerhouse ?? pic.twitter.com/dTZciZZWFa
Piyush Goyal (@PiyushGoyal) October 13, 2023
He acknowledged that their efforts to develop new ideas and innovations could only succeed if they receive proper protection and support.
Goyal emphasized that technology and ideas serve as the twin engines of growth, with the intellectual property regime acting as the fuel that powers this engine.
Goyal stressed that no country can achieve developed nation status without a robust commitment to promoting the knowledge economy and technology-based solutions that cater to the needs of society, industry, and government.
The minister highlighted the vital need to nurture a strong intellectual property (IP) environment, emphasizing its role in safeguarding innovative ideas.
He praised the collaborative efforts between academia, industry, and government through the National Research Foundation to advance research and development.
Commending the recipients of the National IP Award, he expressed confidence that their accomplishments would inspire future generations to devise better and more innovative solutions benefiting both business and society.
The minister stressed the mutual dependency of simplifying business processes and enhancing quality of life, with intellectual property playing a critical role.
He underscored Indias vast potential for innovation, driven by abundant talent, entrepreneurial spirit, and the capabilities of the young population.
The minister positioned India on the cusp of becoming the worlds third-largest economy, heralding it as an innovation powerhouse with boundless potential.
He urged all stakeholders to collaborate towards realizing Indias potential as a global center for innovation and technology.
