Piyush Goyal Targets Top Five Global IP Approval System
He congratulated award winners and noted contributions from scientists, technocrats, entrepreneurs, agricultural institutes and the Indian Institutes of Technology in driving innovation. He praised the incubation hub at the Indian Institute of Technology Madras and said it could inform upgrades to incubation centres in Tier-2 and Tier-3 cities and in remote regions. He encouraged institutions to replicate successful models to expand entrepreneurial capacity.
He highlighted the Union Budget allocation to establish 50,000 new innovation labs in schools and called for nurturing curiosity and problem solving from an early age. He asked professionals and industry stakeholders to engage with schools through alumni outreach, webinars and virtual interactions. He emphasised the need to integrate women and youth more deeply into the IP ecosystem.
He cited improvements in innovation indicators, noting India’s rise in the Global Innovation Index (GII) from 81 to 38. He said patent filings have grown by nearly 215 per cent in the last decade and that patent filings by women have increased by 345 times over 12 years. He acknowledged work by the Controller General of Patents, Designs and Trade Marks (CGPDTM) and said the government is recruiting staff to clear legacy backlogs.
He noted that IP-related fees have been reduced by about 50 to 80 per cent and that an 80 per cent concession has been proposed for women entrepreneurs, startup innovators and micro and small enterprises, alongside exploration of fast-track mechanisms. He pointed to nine Free Trade Agreements (FTAs) covering 38 countries and preferential access to nearly two thirds of global trade as an opportunity for exporters. He said collective efforts by innovators, institutions and government can transform ideas into products and accelerate the country’s development.