Friday, January 21, 2022

‘Ease of doing business’ will go a long way in catapulting India as an innovation hub: Piyush Goyal

Union Minister for Commerce & Industry Piyush Goyal has expressed satisfaction over the reforms introduced in examining and granting of patents, designs, copyrights and trademarks, saying the ‘ease of doing business’ will go a long way in catapulting India as an innovation hub.

The Minister reviewed the functioning of the Office of Controller General of Patents, Designs and Trademarks in Mumbai last evening and deliberated on the ways to build a robust Intellectual Property Rights infrastructure.

He reiterated Government’s commitment to bolster the ecosystem of patents, design, trademarks, Geographical Indication systems; to encourage innovation, research & development in the country and bring newer inventions and knowledge from India’s heritage systems to global platform.

Mr. Goyal while speaking about the CGPDT’s speedy disposal of applications informed that, “The pendency in the IPR department has come down drastically. It has also been decided that any pending application should be completed within days and not months.

The minister also mentioned about the reduction in fee allowed by the department in order to help and support startups and women entrepreneurs in the country. Filing fees for Startups, MSMEs, women entrepreneurs has been reduced by 80%.

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