NEW DELHI: The Federation of Chambers of Commerce and Industry has said the Intellectual Property Rights Policy correctly identifies IP as a strategic tool for furthering India’s economic goals and therefore recommends for the effective protection of IP rights as an essential element for making optimal use of innovative and creative capabilities of its people.

Welcoming the much-awaited IPR Policy for India, FICCI President Harshvardhan Neotia said, “"the national policy contains many encouraging recommendations including the need to create awareness on the importance of IPRs through a nation-wide promotional campaign and linking it to other national initiatives like ‘Make in India’ and ‘Digital India’, undertaking a baseline survey across sectors to evaluate the IP potential in specific sectors.”

“Other significant policy announcements include making the DIPP as the nodal department for all IPR related developments in India, the emphasis to make the Indian Patent Office an increasingly service oriented organization and to improve IP enforcement and the adjudication mechanism, among others, Neotia added.