No.PR-230 August 27, 2020 New Delhi IP growth is directly proportionate to Economic Development: Say experts at PHDCCI Video Conference MSME sector is one of the largest contributors to the Indian economy and protecting IPRs enhances their competitiveness. But MSMEs are not aware about IPRs. PHD Chamber of Commerce and Industry (PHDCCI) organized a video conference to educate MSMEs about the importance and benefits of IP. It was underlined that IP has acquired unprecedented importance, and issues relating to the generation, evaluation, protection, and exploitation of IP systems have become crucial for success of MSMEs. IPRs essentially protect brands, inventions, designs, creative, and literary works from being copied and commercially exploited by third parties. In his Introductory remarks Dr. Ranjeet Mehta, Principal Director, PHDCCI said that the PHD Intellectual Property Facilitation Centre (IPFC) at Amritsar will encourage Start-ups and MSMEs in this region to protect their ideas and innovations. He mentioned that initially Indian businesses were not very aggressive in filing IPRs, Trademarks but now as the IPR laws are good, IP culture will develop in the country and foreigners will also be inspired to invest in India. Welcoming the speakers and participants, Mr. RS Sachdeva, Chair, IPFC Amritsar & Mentor, Punjab State Chapter, PHDCCI informed that PHDCCI has been assigned three IP Facilitation Centres by Ministry of Micro, Small & Medium Enterprises, Government of India in the States of Punjab, J&K and Delhi. The IPFC in Punjab has been set up at Amritsar that will be formally inaugurated in September 2020 and would provide all IP related services like Trademarks, Patents, Copyrights, Designs and Geographical Indication, etc. He added that PHDCCI would be organizing series of events to publicize and apprise stakeholders of the services of IPFC for Start-ups and Industry members. A detailed Presentation was made by Mr. Satish Kumar, Asst. Director IPR, Ministry of MSME about the role of IPFCs and the support provided by their Department for IP Registration. He informed that IPFCs have been established across the country. Awareness seminars and training programs are being organized by these IPFCs to encourage Start-ups and MSMEs to patent their innovations. Mr. Satish Kumar informed that IPFCs assist MSMEs / Start-ups in idea generation & evaluation, R&D business support, Innovation Protection, Litigation support, Management & commercialization of IP, IP Portfolio Management, IPR Management and other legal support. Besides conducting case studies, the MSME Ministry also extends financial support for Product Patenting which is Rs. 1 lack for domestic patent, Rs. 5 lacks for foreign patenting and Rs. 10 thousand for Trademark Registration. Addressing the Conference, Mr. Deepinder Dhillon, Joint Director, Start-up Punjab, Government of Punjab said that the State Government is fully supporting the IP development in the State. He added that Punjab Government is focusing on development of eco system for start-ups by providing ready to use infrastructure. Incubation Centres have been set up all over the State. The Government is encouraging and facilitating linking of industry and start-ups to leverage research and innovations. He informed that STPI Neuron has been setup at Mohali in collaboration with Govt. of Punjab, ISB-Mohali, PTU and Meity. Sector specific incubation Centres have been set up at Mohali and PAU, Ludhiana. An agri incubation Centre has been established in Mohali leading to products that will require IP. Underlining the importance of IPR, Adv. Geeta Gulati, Trade Marks & Patent Attorney said that IPR has made Apple a 2 trillion dollar company. She explained that there are three forms of IPs. Trademark covers name, logo and colour, gives identity to the product and has territorial jurisdiction, Copyright refers to the way company’s logo & name is written and Design which is similar to copyright comes into existence when the copyright is given to the manufacturer. She added that Patent can be done for a new invention only. Adv. Gulati also explained that IP can be financially exploited in the form of franchise agreement, Licensing and Royalty. She further explained that both civil and criminal remedies are available for protecting the IP. According to Dr. Shweta Singh, Founder & CEO, Ennoble IP, IP growth is directly proportionate to economic development of a country as economically developed countries have robust IP culture. She lamented that MSMEs and Start-ups in India are good at innovations but are reluctant to file for IP. As a result only 15 – 20% Indian companies and universities file for IP. Out of the total IP applications filed in India, 80% are received from foreign companies. Giving examples, Dr. Singh explained that branded companies’ source various parts for their products from SMEs at a very low cost and sell it at high price. As a result such SME manufacturers are not able to get proper return for their products. She urged MSMEs and Start-ups to protect their research and innovation with IP and use IPR tools for their economic development. Thanking the eminent speakers and participants, Dr. Ranjeet Mehta said that very useful information was shared during today’s program that will greatly benefit MSMEs and Start-ups and encourage them to use IPR tools for their benefit. Ends Media Division PHD Chamber of Commerce and Industry
PHD Chamber of Commerce and Industry, established in 1905, is a proactive National Apex Chamber working at the grass-root level and with strong national and international linkages.