IP fest focusses on pharma, start-ups

Ahmedabad: The third edition of Intellectual Property (IP) Fest 2019, jointly organized by Federation of Indian Chambers of Commerce and Industry (FICCI) and IP Promotion Outreach Foundation (IPPO) in Ahmedabad, pushed for greater awareness and engagement towards IP rights in pharma, start-ups and entertainment sector.
Speaking about the increasing push for IP Rights (IPR) in India, Sunil Parekh, co-chair, FICCI – Gujarat state council, said, “The national IPR Policy 2016 was a landmark document and it transformed the IP scenario in India.IP helps the industry to a great extent. In fact, foreign direct investments (FDI) come into India when companies are comfortable that their IP is safe.”
“Last year, the IP regime witnessed several reforms with Indian courts delivering landmark judgements. In fact, pendency of cases in IP protection have also reduced from one year to a few months. Moreover, in 2018-19, the patent applications examination went up by 42% whereas online filing of patents too went up by 90% in India,” he added.
State education minister, Bhupendrasinh Chudasama, who was the chief guest at the inaugural session also emphasized on increased awareness about IP rights, in the context of innovation. “IP is prevalent across all sectors and it promotes and protects the rights of the innovators and creators. In Gujarat, where we have a innovations in agriculture and health sector are taking shape, IP holds key importance,” he said.
The day-long IP Fest saw panel discussions on IP policies, IP in entertainment & media, and IP in Start-ups and Information Technology, among others.