Strong IP knowledge is creating an aura for economic growth, and should be a key component used by government for the creation of job opportunities. In U.S. Chamber’s International IP Index comparison of 45 economies, countries that invest in robust IP system are 50% more attractive to foreign investors, have nearly double the workforce concentrated in knowledge-intensive sector’s, and 70 percent more likely to have a supportive business climate. This National IPR Policy was a good step.
Now we look on the government to take this step further by educationg the entrepreneur about the IP rights, streamlining IP registration, and facilitating IP licensing arrangements. These are all critical if Indian innovators and creators are to invest their time, money and passion to bring new ideas to market on a scale to reach all Indians. Moreover, india will be unable to take full advantages of transformative benefits of a strong IP system unless and until it addresses gap in its IP laws and regulation.
Among other things, we will continue to call for broad patent eligibility, including for computer-related inventions (CRI) and new forms and uses of bio-pharmaceutical products (Section 3(d) of the Patent Act); regulatory data protection; modernization of copyright laws, and appropriate civil and criminal remedies for IP infringement to provide a deterrent-level of enforcement.