New IPR policy in 2 months: DIPP secy

New Delhi: India was going to unveil a comprehensive intellectual property right (IPR) policy to address the concerns of foreign industries operating here and those looking to invest in the country, Department of Industrial Policy and Promotion (DIPP) Secretary Amitabh Kant confirmed in New Delhi on Monday.

Addressing a joint Indo-German business round table, attended by chief executives of companies from both countries, Kant said the government was doing all it could to bring out the IPR policy; it would be made public in two months’ time.

His statement came after entrepreneurs from Germany’s pharmaceutical and defence industries conveyed the difficulties of working with sensitive technology under India’s existing IPR regime.

The defence trade between India and Germany, though at a favourable stage currently, needed to be streamlined through responses from the demand and supply sides of the economy, said a German industrialist.

Among other issues raised by the delegation were the unease of business, especially in the Customs clearance process, unavailability of technical workforce and need to remove existing red-tape in investment.

Significant concerns over delays in implementation of the goods & services tax (GST) were also mentioned.

The event, organised by industry bodies Federation of Indian Chambers of Commerce and Industries (Ficci), Confederation of Indian Industries (CII) and the Indo-German Chamber of Commerce, saw the participation by 20 CEOs of German and Indian companies.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.