India can be among top 25 in Global Innovation Index
A collaborative model from industry to map best innovation practices will take India to the league of top 25 countries in the Global Innovation Index from the 48th rank in 2020 and make it the innovation powerhouse of the world, Commerce & Industry Minister said. Minister announced 80% reduction on fee for filing of IPRs for all recognised educational institution in India and abroad. The key achievements highlighted by Goyal include granting of 28,391 patents in 2020-21 as compared to 4,227 grants during 2013-14 (572% growth), reduction in time of patent examination from 72 months in December 2016 to 12-24 months in Dec 2020 and 1.42 million trademark registrations in last four years in comparison to 1.1 million during the previous 75 years (1940-2015).