IPR are important from the standpoint of maintaining present as well as ensuring future competitiveness. They also have an impact on the FDI inflows in a developing country, which helps not just in terms of capital inflows, but also in terms of technology and expertise. Strengthening IPR thus becomes imperative from the viewpoint of economic development. There is an increasing trend observed in almost every aspect of the intellectual property in India. On the basis of data for the past 10 years, one can observe that there is an increase in the number of filings for most types of intellectual property. It shows the deepening of the IPR regime in the country. The intent to have an IPR policy is a step in the right direction and in continuation with the national IP strategy that was announced a few months back. It will help both in reducing the fear in foreign countries that are apprehensive about investing in India as well as strengthen the current IP regime.

(Economic Times)