<p>Commerce and Industry Minister Piyush Goyal on Tuesday announced to provide 80 per cent fee reduction to all recognised educational institutions applying for patents, whether in India or abroad.</p>.<p>He said the 80 per cent fee reduction was earlier available to all recognised educational institutions which are owned by the government.</p>.<p>"I think it's quite unfair that this is restricted only to innovation coming out of government institutions.</p>.<p>"This 80 per cent fee reduction will now apply to all recognised 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," he said at a CII webinar on intellectual property.</p>.<p>He added that all recognised educational institutions, universities, schools and colleges would now enjoy the benefit of an 80 per cent fee reduction.</p>.<p>Now, this will mean the total fee for filing publication and renewal for an institute will reduce from about Rs 4,24,500 to Rs 85,000, that is a reduction of 80 per cent.</p>.<p>"I think this will be a great encouragement for universities and I do hope to see lots and lots of new universities and educational institutions participating in this.</p>.<p>"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 take the benefit of this," Goyal added.</p>.<p>He asked the Department for Promotion of Industry and Internal Trade (DPIIT) to start the process of approval of this announcement.</p>.<p>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.</p>.<p>Industry body CII can make a presentation to the finance ministry to consider this idea and "I would urge DPIIT and CII to work with the department of banking to take that idea forward," he added.</p>.<p>Further, the minister suggested DPIIT to work out modalities on introducing scholarships for 75 students studying law related to IP ecosystem and who come from economically weaker sections.</p>.<p>"We must set a target of spreading awareness about IPR (intellectual property rights) among a million students in the next 52 weeks. And, then we can consider including it in the curriculum," he said.</p>.<p>He also said the ministry would like to improve India's ranking in the Global Innovation Index from 48 to among the top 25.</p>.<p>"We need to work towards it in a mission mode," he said.</p>.<p>Goyal said there have been 14.2 lakh trademark registrations in four years between 2016 and 2020, as compared to 11 lakh during the previous 75 years (1940-2015).</p>.<p>"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.</p>.<p>The minister also suggested anonymising patent applications, so that there is a complete transparency in the process.</p>
<p>Commerce and Industry Minister Piyush Goyal on Tuesday announced to provide 80 per cent fee reduction to all recognised educational institutions applying for patents, whether in India or abroad.</p>.<p>He said the 80 per cent fee reduction was earlier available to all recognised educational institutions which are owned by the government.</p>.<p>"I think it's quite unfair that this is restricted only to innovation coming out of government institutions.</p>.<p>"This 80 per cent fee reduction will now apply to all recognised 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," he said at a CII webinar on intellectual property.</p>.<p>He added that all recognised educational institutions, universities, schools and colleges would now enjoy the benefit of an 80 per cent fee reduction.</p>.<p>Now, this will mean the total fee for filing publication and renewal for an institute will reduce from about Rs 4,24,500 to Rs 85,000, that is a reduction of 80 per cent.</p>.<p>"I think this will be a great encouragement for universities and I do hope to see lots and lots of new universities and educational institutions participating in this.</p>.<p>"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 take the benefit of this," Goyal added.</p>.<p>He asked the Department for Promotion of Industry and Internal Trade (DPIIT) to start the process of approval of this announcement.</p>.<p>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.</p>.<p>Industry body CII can make a presentation to the finance ministry to consider this idea and "I would urge DPIIT and CII to work with the department of banking to take that idea forward," he added.</p>.<p>Further, the minister suggested DPIIT to work out modalities on introducing scholarships for 75 students studying law related to IP ecosystem and who come from economically weaker sections.</p>.<p>"We must set a target of spreading awareness about IPR (intellectual property rights) among a million students in the next 52 weeks. And, then we can consider including it in the curriculum," he said.</p>.<p>He also said the ministry would like to improve India's ranking in the Global Innovation Index from 48 to among the top 25.</p>.<p>"We need to work towards it in a mission mode," he said.</p>.<p>Goyal said there have been 14.2 lakh trademark registrations in four years between 2016 and 2020, as compared to 11 lakh during the previous 75 years (1940-2015).</p>.<p>"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.</p>.<p>The minister also suggested anonymising patent applications, so that there is a complete transparency in the process.</p>