Revised National IPR Policy India- From Industry And Public Development Perspective

May 2016 marked a new era in the history of IPR policy and regulation in India. The Union Cabinet on May-12- 2016 approved the much anticipated "National Intellectual Property Rights (IPR) Policy" to lay the future roadmap for intellectual property in India. It is said to be a "first of its kind" policy for India, covering all forms of intellectual property together in a single framework. The ideologies laid down in the policy incentivize IP owners by granting them monopoly rights. The Policy is in compliance with WTO's (World Trade Organization) agreement on TRIPS (Trade Related aspects of IPRs), goals to sustain entrepreneurship and boost the scheme "Make in India".

The National IPR Policy is a vision document that aims to create and exploit synergies between all forms of intellectual property (IP), concerned statutes and agencies. It sets in place an institutional mechanism for implementation, monitoring and review. It aims to incorporate and adapt global best