Indian Economy News

Union Minister of Commerce & Industry Mr. Piyush Goyal Calls for Making India’s IP Approval System Among the Top Five Globally in Speed, Transparency, and Efficiency

India is strengthening its innovation ecosystem and Intellectual Property (IP) framework to accelerate technology-driven growth and global competitiveness. Speaking at the National IP Awards and IP Conference in New Delhi on March 9, 2026, Union Minister of Commerce and Industry Mr. Piyush Goyal highlighted the government’s vision to make India’s IP approval system among the top five globally in terms of speed, transparency, and efficiency. Faster processing of patents, trademarks, copyrights, designs, and Geographical Indications (GI) is expected to help innovators, startups, and MSMEs commercialise ideas more quickly and build a stronger innovation culture across the country. The government has also reduced IP filing fees by 50-80% to improve accessibility for startups, micro and small enterprises, and women entrepreneurs, while exploring further fee reductions and fast-track mechanisms to encourage greater participation in the IP ecosystem.
India’s innovation landscape has witnessed significant progress in recent years. Patent filings in the country have increased by 215% over the past decade, while India’s ranking in the Global Innovation Index improved from 81st in 2015 to 38th currently, reflecting growing research capabilities and technological advancement. The government is also focusing on nurturing innovation among young students through the establishment of 50,000 innovation labs in schools, aimed at promoting creativity, experimentation, and problem-solving skills. Increased participation of women and youth in research and technology sectors, combined with India’s large STEM talent base and expanding startup ecosystem, is expected to further strengthen the country’s innovation-driven development and position India as a major global hub for technology and intellectual property. 

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