The Department of Industrial Policy and Promotion (DIPP) has set up a sectoral innovation council on intellectual property rights to stimulate innovation across sectors in India.
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Established at a conference to mark World IP Day on 26 April, the sectoral innovation council is part of a national IP strategy to promote innovation and the diffusion of new and efficient technologies, according to DIPP secretary Saurabh Chandra.
Speaking at the conference, Chandra noted that companies are increasingly required to “innovate in production processes and in products and services” to create lower prices and sustain themselves in competitive markets. He added that an effective IP rights system was key to ensuring that new ideas and creativity are transformed into industrial applications.
Chaitanya Prasad, controller general of patents, designs and trademarks, said that a national IP policy should seek to develop a culture of creativity, protection and exploitation of IP to reassure investors of India’s respect for IP rights.
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