Chennai:
Intellectual Property office is short of qualified patent and
trademark examiners with patent applications piling up, according to
chairman of Intellectual Property Appellate Board K N Basha.
Delivering the inaugural address during an Interactive Panel
Discussion on Leveraging Intellectual Property for Growth and
Competitiveness’ organised by Southern India Chamber of Commerce and
Industry here on Saturday, Basha said that the delay in granting
patents doesn’t augur well for the country’s economy.
He also highlighted how counterfeit products market is emerging due to
advances in science and Technology. “Estimates suggest that 3-5 per
cent of all products sold in the Rs 2.4-lakh-crore FMCG (fast-moving
consumer goods) market in India are counterfeit,” said Basha.
He also said countefeits remain a problem despite the country having
strong laws to regulate the infringement of intellectual property
rights. He said that Indian copyrights Act is the best and has been
hailed by US.
“there are provisions to protect intellectual property rights but
there is no awareness among the people, Basha said.
He also rued that India’s research and development spend is only one
per cent which is way below the developed ations. “Our college and
Universities file just 5 per cent of patents,” he said.
The draft of Intellectual Property Right Policy is a better legal
system, said Shilpi Jha, senior counsel, South Asia, US embassy. The
draft policy lists many steps to change and improve laws and the
legislative framework, administrative practices, and increase the
commercialisation of IP.
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