IPR is now a lifeline of any industry to protect innovation, core business products/ services to stay afloat in the cut-throat competition in the global market. Moreover, existing laws make the process of getting intellectual property rights more difficult thanks to lack of reforms in the IPR laws. It’s more important to protect IPRs in the era of digital enhancement. Digital information may now be secured using Digital rights management (DRM) technology to prevent unauthorised copying and distribution. However, experts opine that the enforcement system in India is a weak framework for IPR safety, and its enforcement measures are insufficient.
According to Intellectual Property of India (IPI), Indian innovators focus on potentially shaping the country’s economic and scientific trajectory. The IP wave of technology-driven development from 2014-2023 reflects that mechanical and chemical sciences-related inventions have been promising sectors of patent protection for decades, with 20 per cent and 16 per cent, respectively, showing their supremacy.
IT, Electronics, Electrical, Communication, Physics, Biotechnology, Polymer, Civil, and Metallurgy are next emerging sectors. The next pole-vault jump in IP regime is expected from Telangana, Punjab, and Haryana, Rajasthan, new-age states emerging leaders in the IP innovation space, observes IPI.
