Govt taking steps for MSMEs to monetise creative inventions
By IANS |
5 Views MSMEs should adopt new digital solution for growth (photo:Pixabay). Image Source: IANS News
New Delhi, April 28 : The Centre has been taking all necessary measures to spread awareness on the significance of intellectual property rights in protecting and monetizing their creative inventions, a senior official said on Wednesday.
Addressing a webinar on From Minds to Market: IP Exploitation by MSMEs , organised by FICCI, Rajendra Ratnoo, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT) stressed on the need for Indian SMEs to increasingly protect their innovative products.
From slow disposal to indiscriminate filing and low cost of registering patents, experts and researchers point to a variety of reasons for this trend.
NEW DELHI: Indian researchers, scientists and innovators appear to have more success in obtaining patents when they file applications in another country. Analysis of data for 10 years shows that on average, four of every 10 applications made by Indians abroad fetch a patent, while it is one-in-10 in India.
From slow disposal to indiscriminate filing and cost of registering patents, experts and researchers point to a variety of reasons for this trend. According to data from the World Intellectual Property Organisation (WIPO), Indians filed 1.2 lakh applications in the country between 2010 and 2019 and 13,670 were granted patents. Comparatively, 44,477 of the 1.07 lakh applications filed by Indians abroad were granted.