Goyal announces 80% fee cut for all recognised education institutions applying for patents
Commerce and industry minister Piyush Goyal on Tuesday announced an 80% fee reduction to all recognized educational institutions applying for patents, whether in India or abroad. At a Confederation of Indian Industry event on intellectual property (IP), he emphasised that India must capture what is rightfully its and that the government would like to improve the country’s ranking in the World Intellectual Property Organization Global Innovation Index from 48 to among the top 25.
“No developing country is there in the Top 25. So it is quite a challenge. We need to do this in mission mode,” he said.
Noting that the 80% fee reduction was earlier available to all recognised educational institutions which are owned by the government, Goyal said: “I think it is quite unfair that this is restricted only to innovation coming out of government institutions. So I would like to make an announcement that this 80% fee reduction will now apply to all recognized educational institutions whether it is government (owned), government-aided, or private institutions irrespective of whether these institutions are situated in India or anywhere in the world”.
This means the total fee for filing publication and renewal for an institute will become Rs 85,000 from about Rs 4,24,500 now.
“I am given to understand that this will now become the lowest fee among the top Patent Offices worldwide. I would encourage all universities both in India and abroad to
the benefit of this,” Goyal said.
On the suggestion of using IPR as a collateral for financial institutions and bank finance, the minister said that the matter can be taken up with the finance ministry and asked CII to make a presentation to take that idea forward.
Goyal said that there have been 14.2 lakh trademark registrations in four years from 2016-20 as compared to 11 lakh during 75 years from 1940-2015 and that the time of patent examination has also been reduced from 72 months in December 2016 to 12-24 months in December 2020.
“We’re also assessing how to compress this time further,” he said, suggesting that patent applications be anonymised to ensure complete transparency in the process.
Goyal suggested the commerce and industry ministry to work out the modalities to introduce scholarships for 75 students studying law related to IP ecosystem and who come from economically weaker sections and set a target of spreading awareness about IPR among a million students in the next 52 weeks, post which its inclusion in the curriculum can be considered.