Department for Promotion of Internal Industry and Trade(DPIIT) aims to reduce the time taken to examine patents to six months as part of its five year plan from 18 months currently.
A patent is a form of intellectual property.A patent gives its owner the right to exclude others from making,selling and importing an invention for a limited period of time usually twenty years.The patent rights are granted in exchange for an enabling public disclosure of the invention.
India also hopes that it will improve its position further in the global innovation index(GII),2019 based on its improvement in areas such as ease of doing business.
The GII has been jointly developed by the WIPO,Cornell University and Paris-based business school Insead.It includes more than 80 indicators exploring a broad vision of innovation including political environment, education,infrastructure and business sophistication.
In 2018,India has improved its ranking to the 57th position from the 60th in 2017 while China’s ranking went up to 17th from 22nd a year ago. Further,Switzerland has been on top of the index for the last eight years.
The global launch of the GII 2019 which would rank 130 countries will be released in New Delhi.It is co-organised by WIPO,DPIIT and CII.
The GII 2019 will also analyse the medical innovation landscape of the next decade looking at how technological and non-technological medical innovation will transform the delivery of healthcare worldwide.