Commerce & Industry Minister of India Piyush Goyal, announced an 80% Patent Filing fee cut for educational institutions. Great news for Educational institutions whether in India or Abroad to secure patent rights in India with this great move.

Earlier these subsidies were only available to recognized educational institutes, which were owned by government.  Total Fee : Filing, Publication & Renewal was around INR 4.24 Lakhs (~5700USD) which is now reduced to INR 84,900 (~1141 USD).

This would be great encouragement for universities globally to file in India. Minister also said “There is a need to bring Intellectual Property (IP)revolution for inclusive progress & strengthen IP laws in the country to create more jobs, boost competitiveness & manufacturing.

He also added “Today we recognize IP as one of the most valuable assets in India to compete in Global economy. Our IPR must ensure whoever invents in India is not only protected but also guaranteed to prosper.

Addressing at Confederation of Indian Industry event on IP, he emphasized India must capture what is rightfully its that the government would like to improve country’s ranking in WIPO’s Global innovation index from 48 to among the top 25.

This would be great vision from government as no developing country is in the top 25 list.

Fore more read :https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1741281