Patent fee to be Cut 80% for Recognized Institutions

All recognized educational institution, whether in India or abroad, will get an 80% reduction in patent application fees, commerce and industry minister Piyush Goyal said on Tuesday.

This mean the total fee will be reduced to Rs. 85,000 from about Rs. 4,24,500 currently.

Speaking at a Confederation of Indian Industry (CII) event on intellectual property (IP), Goyal emphasized that India must capture its rightful share (of IP) and that the government would like to improve that country’s ranking in Goyal Innovation Index to among the top 25 from 48 at present.

“No developing country is in the Top 25. So, it is quite a challenge. We need to do this in mission mode,” he said.

Goyal added: “I think it is quite unfair that this is restricted only to innovation coming out of government institution. So, I would like to make an announcement that this 80% fee reduction will now apply to all recognized educational institution.” S-ET

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