A quiet yet forceful change is taking place in India, and this change is the IP Revolution. The way we create, protect and use ideas is being forever altered due to the IP Revolution. IPR has grown from being a small and niche area of law into a vital and strategic economic force guiding many areas of our lives, including but not limited to: Start-ups; Technology; Entertainment; Global Trade. Consequently, IPR is not just an area of law anymore; it is one of the major pillars within India’s Innovation-driven economic success.
The Shift from Awareness to Action
Ten years ago, the topic of patents, trademarks, and copyrights was reserved for large corporations and the attorneys who specialize in this field. That has changed tremendously. Today, companies at the startup stage are filing patents to protect their ideas, MSMEs are seeking trademarks to protect their brand identity, and content creators are protecting against piracy of their digital products. More importantly, there is a growing realization that Intellectual Property is much more than protection; it is about power. IP creates credibility, attracts investment capital, builds brand equity, and enhances global competitiveness.
Government Reforms Driving the Change
India’s Growth in IP Isn’t a Coincidence: Government Reform Efforts Have Dramatically Changed the Landscape of the Indian IP Ecosystem. India has seen a tremendous amount of growth in its IP landscape due to several factors over the past several years, including: –
- Improved processes for faster processing times on patent and trademark applications
- Improved timelines for examining both patents and trademarks
- Digital filing systems that provide quicker and easier access to filed applications and greater transparency regarding the status of those applications
- Start Up India Incentives – An 80% reduction in patent filing fees
- National IPR Policy 2016 – The framework for raising awareness, enforcing rights, and commercializing patents
These combined efforts have positioned India as one of the top 10 countries with the highest growth in patent filings as well as an increasingly influential player in the global IP theatre. India’s message is clear: It will be ready to compete head-to-head with other high innovation economies.
Innovation at the Heart of India’s Growth
India’s startup ecosystem, which is now the third largest in the world, has played a major role in expanding India’s IP portfolio. As a result, tech innovators, biotech researchers, fintech and AI startups now place great emphasis on obtaining patents to protect their assets. IP backed Innovation will drive market share in the pharmaceutical, software and renewable energy marketplaces.
Even established companies are now utilizing IP to modernize their businesses. Many small companies have created brands based on trademarks as a way of establishing their identity; the Agricultural Sector has submitted GI filings to protect Indigenous products; and the Entertainment Industry has begun using Copyright and Anti-Piracy Legislation to protect its digital content.
IP Is Now Everywhere
The incredible extent to which Intellectual Property (IP) has affected people’s lives has been made clear through various aspects of Indian culture:
- IP protects almost every commercial, retail, or product brand you may use with a registered trademark.
- IP provides copyright protection for all types of multimedia (reels, posts, films) used for entertainment and informative purposes.
- IP protects and establishes Patent/IP rights across many forms of technology, devices, inventions, or formulas in today’s high-tech and global economy.
- IP is used to establish and protect uniqueness for each regionally specific product such as Darjeeling Tea, Banarasi Sarees, etc., through Geographic Indicators (GI) Rights.
IP has become an invisible driver of markets, creativity, confidence in end-users, and has determined the success of a product, the visibility of a brand, and the ability of innovation to survive under “globalization.”
Challenges That Still Remain
Despite its successes, India faces significant challenges; awareness of many industry sectors is still very low, counterfeit products threaten the authenticity of brands, and ongoing enforcement gaps and protracted litigation often dissuade innovation. However, India is creating an environment that supports innovation through increased incentives and the imposition of penalties on infringers at an increasing pace.
A Future Powered by Ideas
India is in the middle of transforming its economy to a knowledge-based one. With the rapid advancement of innovations from Artificial Intelligence (AI), bioproduction technologies, consumer products such as apparel and footwear, electronic media, and sustainable practices; a stronger system of Intellectual Property Rights (IPR) is expected to play a critical role in posturing this nation as an innovator for the future.
The IP revolution in India is more than just a legal development; rather, it represents the growth of the nation’s economic status and identity as well. The IP revolution is representative of a country that is determined to protect what it has developed and compete with others around the globe at the very highest level. In the new era where innovation is the key driver of value, IPR has become a necessity rather than an option. Moreover, for India, this fact has become ever clearer than before.
Authored by Bhumika Mukherjee
