New national Intellectual Property Rights policy likely by December end: Amitabh Kant

The government is likely to come out with a new national Intellectual Property Rights (IPR) policy by the month-end, DIPP Secretary Amitabh Kant said on Thursday.

The task force appointed by the government on the matter has already submitted its report, Kant said while speaking at a conference organised by Observer Research Foundation here.

A draft policy, which is in the public domain, seeks to encourage innovation by providing tax incentives and modifying intellectual property rights.

It has been formulated with a mission to foster innovation, accelerate economic growth, employment and entrepreneurship besides protecting public health, food security and environment.

Pointing out that India has jumped 12 positions in the ease-of-doing-business ranking, Kant said, "We are expecting to jump up at least by 40-42 positions by next year." He also said the government is to going to bring in a new defence procurement policy soon.

This policy is going to be a key driver with a huge potential to bring in new technology, lots of jobs and high growth, ORF said in a statement quoting Kant.