The Union Cabinet on Thursday approved the National Intellectual Property Rights (IPR) Policy, in a bid to make doing business in India easier.
The Union Cabinet on Thursday approved the National Intellectual Property Rights (IPR) Policy, in a bid to make doing business in India easier. After the Cabinet meeting, finance minister Arun Jaitley said it was an important step, and that by 2017 it would take only one month to register a trademark.
The policy aims to encourage entrepreneurship, creativity and innovation and curb manufacturing and sale of counterfeits. With a tagline of “Creative India: Innovative India”, it calls for updating various intellectual property laws, such as the Indian Cinematography Act, to remove anomalies and inconsistencies.
“The aim is to create awareness about economic, social and cultural benefits of IPRs among all sections of society,” Mr Jaitley said here. On trademarks, he said the registration process will be reduced to one month.
