India's Path to Becoming an IPR Powerhouse

India should shift to an 'offensive posture' in intellectual property rights to establish itself as a global knowledge economy hub, according to a paper by the Economic Advisory Council to the Prime Minister. The paper advocates adopting international best practices to help Indian innovators capture global markets.

India is being urged to adopt an 'offensive posture' on intellectual property rights (IPR) to cement its status as a hub in the global knowledge economy, as per a new paper by the Economic Advisory Council to the Prime Minister (EAC-PM). The document, titled 'India and Global IPR Treaties', calls for shedding India's traditional reticence and adopting international best practices.

The council's paper argues for a shift from defending domestic markets to equipping Indian innovators for global market capture, highlighting the need for India to evolve from defensive policies and align with global standards. It criticizes the historic defensive stance, noting it has left India ultimately accepting foreign innovations.

The paper also outlines necessary steps such as alignment with the Strasbourg Agreement on patents and updates to the Designs Act 2000 to comply with global treaties. Recognizing the surge in domestic IPR filings and foreign multinationals using India for IPRs, it emphasizes an offensive approach to fully leverage economic potential.

(With inputs from agencies.)