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Business Economy

US-India IP Dialogue aimed at strengthening IP collaboration

US-India IP Dialogue aimed at strengthening IP collaboration

New Delhi, Oct 17 (UNI) With an aim to identify solutions, share technical knowledge and expertise between India and the US in the Intellectual Property domain, discussions were held on joint opportunities and challenges related to patent filing, regulatory landscape, copyright and infringement.

Furthering the successful launch of the India-US Dialogue on Intellectual Property (IP) in 2018, the US Chamber of Commerce’s Global Innovation Policy Center (GIPC) and Industry body Federation of Indian Chambers of Commerce & Industry (FICCI) in partnership with US-India Business Council (USIBC), hosted the second edition of the dialogue here on Wednesday to garner recommendations to deepen bilateral strategic cooperation on IP policy.

The event witnessed participation of leaders from the US and Indian government and the Indo-US business community.

The 'IP Dialogue: Opportunities for US-India Collaboration', an initiative on IP-led innovation, brought together experts from India’s Department of Industrial Policy and Promotion, Indian Patent Office, and the US Patent and Trademark Office, along with thought leaders from IBM India, Gujarat National Law University, USPTO, UC Berkeley, Indian movie and music industries and RELX among others.

The discussions under this dialogue focussed on joint opportunities and challenges related to whole spectrum of IP, including patent filing, regulatory landscape, copyright and infringement, technology transfer, and enforcement.

The aim was to identify solutions, share technical knowledge and expertise between both countries in the IP domain, while providing a platform to experts from both countries to develop stronger understanding of the need for uniform IP frameworks and arrive at solutions in collaborative way.

With a vision to safeguard confidential business information, GIPC and the Indian government also published their first-ever joint project – ‘A Guide to protecting Trade Secrets’ for Indian businesses on trade secrets.

Trade secrets are the type of intellectual property most relied upon by businesses all over the world to retain a competitive advantage. This toolkit aims to guide Indian businesses especially MSMEs and Start-ups regarding protection of trade secrets.

Speaking at the event, Patrick Kilbride, Senior Vice President of the US Chamber’s Global Innovation Policy Center, said 'Innovation has revolutionised life in India. Competitiveness, going forward, is rooted in IP-led innovation. India is on the rise, some modest upgrades to the IP system in India will propel innovation in the country to the next level.

'India has an opportunity to get ahead, drive domestic growth and be an engine for global economic growth. Since India and US both are innovation economies, If India succeeds in becoming a leader in the global knowledge economy, US industries will also benefit. This will not only enhance mutual success growth but also augment the strong relations between both countries.'

Rajiv Aggarwal, Joint Secretary, Department of Industrial Policy and Promotion said 'Recognising the importance of Intellectual Property Rights (IPRs) in the economic growth of India, several steps have been taken to strengthen the IP eco-system in India since adoption of the National IPR Policy, 2016.

Carrying this forward, a simple and user-friendly Trade Secrets Toolkit has been prepared as a ready reckoner to sensitize Indian businesses, especially MSMEs, on the need to protect their trade secrets, he said, adding that it is hoped that this will give them a competitive advantage.

The dialogue offered a platform for solutions-driven ideas with a problem-solving focus that can enable India’s transition from a resource-based economy to a knowledge-based one, backed by inclusive growth. In addition, it offered industry perspectives for relevant bilateral dialogues and create a repository of joint best practices.

The Dialogue recommendations will be shared with both governments to strengthen strategic cooperation on IP policy.

The US Chamber of Commerce’s Global Innovation Policy Centre is working around the world to champion innovation and creativity through intellectual property standards that create jobs, save lives, advance global economic and cultural prosperity, and generate breakthrough solutions to global challenges.


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