While speaking at the Indo-European Conference on Fostering Co-operation in Research, Innovation and IPR recently, Rajiv Aggarwal, Joint Secretary, DIPP and Controller General of Patents, Designs and Trademarks, Intellectual Property Office, started his address by talking about the MoU between the India and European Patent Office and the positive results it had yielded in the recent past.
He also mentioned about the Government's intention to open four new National Institutes of Design in various parts of India and the possibility of having European faculty on board to impart education.
Aggarwal also briefed the audience about the ongoing discussions about the Free Trade Agreement between India and Europe and expressed his optimism about increase in trade which can be expected in the near future.
On another note, Aggarwal expressed his concern at the low rate of commercialization of patented inventions in India which stood at a mere three percent.
He invited industry participation and highlighted the need for an increase in the number of growth incubators and the need for funding startups to mitigate this issue. Aggarwal spoke about the important role IPR are set to play in this century. He further talked of India's potential in innovating and was hopeful that more Indians' would innovate and reverse the trend of generating IP assets for foreign companies.
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