Entering Into The Frugal Innovation System - A Step Ahead By India

In this modern era Intellectual Property Right (IPR) is gaining a lot of importance in the society of inventors, research oriented industries, multi-national companies (MNC) and small & medium enterprises (SME). It is interesting to note that the status of IPR in the country is now much advanced as compared to previous years. A Continuous effort by the Indian government in stimulating the policies of IPR has resulted in the enhancement of IPR. The Post-TRIPS era has given India a strong legal frame work which is a suitable requirement for technological progress and economical prosperity. It can be seen in the recent years that India has emerged as a focused market for path-breaking innovations. Today, most of the MNCs, research institutions and technology incubators are focusing on driving innovation for global and local markets. Over the past two decades around 750 R&D centers have been established by MNCs in India, employing over 400,000 professionals. This article