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What is the News?
The Minister of Commerce and Industry has conferred the National Intellectual Property Awards 2020.
About National Intellectual Property Awards:
- Given by: Office of Controller General of Patents, Designs and Trademarks(CGPDTM), Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
- Aim: To recognize and reward the top achievers, comprising individuals, institutions, organisations that have contributed towards strengthening the IP ecosystem in the country and encouraging creativity and innovation.
India’s Achievements in Patents:
- Firstly, India recorded a growth of 572% in grant of Patents in the last 7 years. Around 28,391 patents were granted in 2020-21 as compared to 4,227 grants during 2013-14.
- Secondly, there has been a reduction in the Time of patent examination from 72 months in 2016 to 12-24 months in 2020
- Thirdly, around 14.2 lakh trademarks were registered in the last 4 years (2016-2020) in comparison to 11 lakh during 75 years (1940-2015).
- Fourthly, India’s ranking in Global Innovation Index has improved to 48th in 2020 from 81st in 2015-16.
- India is now working in a mission mode to achieve the ambitious target of being in the top 25 nations of the Global Innovation Index.
Indian Government Initiatives to Promote Patents Filing:
- There will be an 80% fee reduction in the filing of IPRs for all Recognized Educational Institutions (Govt/Aided/Pvt). This will be applied irrespective of whether such an institute is in India or outside India.
- Moreover, the Office of CGPDTM (IP office) will impart training & awareness to 10 Lakh students as part of Azadi ka Amrit Mahotsav (15th Aug 2021 to 15 Aug 2022).