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India’s first IPR policy has finally been approved

BI India BureauMay 13, 2016, 15:03 IST

India's first policy on intellectual property rights (IPR) has been approved by the cabinet.

"In India, we have a very effective and robust trademark law in place, but the policy deals with the mechanism of trademark registration. Many things now are starting online. By 2017, it will take one month to register a trademark, not years," stated finance minister Arun Jaitley, while adding that all processes will now be done online.

"The objective behind the IPR policy is quite clear, when there are new inventions, when there is growth in trade, commerce and industry, an IPR must be there to protect them," he added.

The new policy has seen additions in the form of music and industrial drawings.

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