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On Friday, the Cabinet has approved India’s first policy on intellectual property rights (IPR).
The finance minister Arun Jaitley has said that “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. By 2017, it will take one month to register a trademark, not years.”
He further said that “the objective behind the IPR policy is quit clear, when there are new inventions, when there is growth in trade, commerce and industry, an IPR must be there to protect them.”
