The department of industrial policy and promotion (DIPP) along with the Confederation of Indian Industry (CII) and the World Intellectual Property Organisation (WIPO) will set up India Intellectual Property Foundation at the National Institute of Intellectual Property Management (NIIPM), Nagpur.
Minister of commerce, industry and textiles Anand Sharma announced this at the inauguration of the NIIPM building at Nagpur. The minister also announced renaming the institute as 'Rajiv Gandhi National Institute of Intellectual Property Management.'
''This development will help in synergising the various IPR initiatives in the country and will immensely benefit all stakeholders. This will make Nagpur and Maharashtra the hub for research related intellectual property activity in India,'' the minister said.
The minister referred to the rising number of patent applications within and outside the country, which necessitated the creation of proper legislation and infrastructure creation, he said.
''The number of patent applications has expanded many fold over the years. Last year alone, nearly 42,000 patent applications were filed,'' Sharma pointed out.
He said there was an increase of international patent filings also as countries have gained competitiveness. There is an urgent need to create a pool of trained professionals who have a sound understanding of domestic and international patent law and are imparted with professional training, he said.