India´s Finance Minister Nirmala Sitharaman, recently communicated that India is in a stage where economic growth and technological developments will highly depend on intellectual property.
The Minister gave recognition to the support of judiciaries, encouraging the constant increase of innovations and copyrighted works registered in the country. In addition the Minister mentioned the extention of the intellectual property pilot scheme until 2023, providing significant legal costs reductions for IP right holders.
"As we were removing restrictive rules and regulations, we were also making sure that we give a framework within which they can work. Not just start-ups, but we were also supporting R&D in this country," Sitharaman said.
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- Publication date
- 1 March 2022