Piyush Goyal Advocates for India’s Intellectual Property System to Rank Among Global Top Five

Union Minister of Commerce & Industry Piyush Goyal, speaking at the National IP Awards & IP Conference held in New Delhi on March 10, called for India’s intellectual property (IP) approval system to be ranked among the top five worldwide in terms of speed, transparency, and efficiency. He underscored the government’s commitment to strengthening the innovation ecosystem by encouraging broader participation from startups, micro, small and medium enterprises (MSMEs), women, and youth.

According to a Ministry of Commerce & Industry release, the government aims to establish a faster disposal mechanism for IP applications to enable innovators to bring their ideas to market more swiftly. Goyal emphasized that expediting the processing of applications related to trademarks, patents, copyrights, designs, and Geographical Indications (GI) is vital to fostering a robust culture of innovation across India.

The Minister acknowledged the contributions of scientists, innovators, technocrats, MSMEs, entrepreneurs, agricultural institutes, and Indian Institutes of Technology (IITs) who have been instrumental in shaping India’s innovation-driven growth. He noted that the awardees at the conference embody the spirit of 'New India,' which embraces technology and strives to maintain a leading edge in global innovation.

Highlighting the importance of nurturing curiosity and inquiry from an early age, Goyal referenced the government’s initiative to establish 50,000 new innovation labs in schools. This program aims to cultivate creativity and problem-solving skills among students. He also encouraged professionals and industry stakeholders to engage with their alma maters to mentor students and promote entrepreneurship.

Goyal drew attention to the significant increase in patent filings by women inventors, which have surged 345 times over the past 12 years. He stressed that the active participation of women and youth is crucial for technological advancement and enhancing citizens’ quality of life. The Minister expressed confidence that India’s large talent pool and substantial number of STEM graduates will be key drivers in elevating the country’s IP ecosystem to world-class standards.

On the international front, Goyal highlighted India’s progress in the Global Innovation Index, where the country improved its ranking from 81st in 2015 to 38th currently. He also noted that patent filings in India have grown by nearly 215 percent over the last decade, with the global ranking advancing from 14th to 6th.

The Minister commended the efforts of the Controller General of Patents, Designs and Trade Marks for aligning India’s IP system with international standards and successfully reducing the backlog of pending applications.

To further support innovators, Goyal proposed extending an 80 percent fee reduction for patent and trademark filings to women entrepreneurs, startup innovators, and micro and small enterprises, making the IP system more affordable. He also suggested exploring fast-track mechanisms tailored to these applicants to accelerate their access to IP rights.

Concluding his remarks, Goyal reiterated the government’s vision encapsulated in the mantra: 'Innovate, Patent, Produce and Prosper,' emphasizing that this pathway will drive India’s emergence as a global innovation leader.