The Indian Agri Sector Needs a Strong Intellectual Property System That Ensures Quicker Processing Times

The Indian Agri Sector Needs a Strong Intellectual Property System That Ensures Quicker Processing Times

764

The Indian patent law has to be updated in order to keep up with the rapidly evolving business needs and technical advancements that have taken place since it was established.

KhetiGaadi always provides right tractor information

The Ph.D. Chamber of Commerce and Industry (PHDCCI) Agri-Committee has made a suggestion to the Ministry of Commerce and Industry to enhance the Patent Act of 1970 in the agriculture sector.

On August 22, 2022 (Monday), from 12:00 PM to 1:00 PM, the organisation conducted a news conference at Ph.D. House in Hauz Khas, New Delhi, with participation from Mili Dubey, Director of Food & Agri, PHDCCI, and N.K. Aggarwal, Chairman of Ph.D.’s Agri-Committee.

Khetigaadi

The government was commended by Pradeep Multani, President of the PHDCCI, for launching all of the innovative initiatives and programmes in the agricultural sector for the benefit of the farmers and for collaborating with the private sector for inclusive development. Multani also mentioned that these initiatives will ultimately help to realise our Prime Minister of India’s vision of a “$5 trillion Economy” by 2026–2027. India is quickly transitioning to a knowledge-based economy, which is a priceless resource for any country.

According to Multani, many businesses are now making sizable investments in R&D and are aware of the importance of safeguarding their intellectual property.

The Indian Agriculture Sector urgently needs a strong intellectual property framework that ensures a quicker processing time, according to Multani.

While the Indian Patent Office has made significant efforts to reduce the pendency of applications, N K Aggarwal, Chair, Agri-Business, Committee, PHDCCI, noted that additional efforts are still required to ensure the prompt issue of patents. Therefore, Aggarwal continued, controllers and examiners at different stages of the examination process should follow set deadlines in order to facilitate the expedited processing of applications.

Multiple pre-grant oppositions filed by “any person” and at any time prior to the issuance of the patent frequently extend the processing time for patent grant in India.

According to N K Aggarwal, there is a widespread abuse of the pre-grant opposition provision’s latitude, such as the filing of fictitious oppositions to postpone patent grant. Many applications also languish unanswered for years due to the drawn-out legal processes, which drive up the cost of patent prosecution to the point where the applicant even considers abandoning the patent application.

Khetgaadi provides you with all the latest updates related to tractor, tractor price, agriculture, etc.

agri news

To know more about tractor price contact to our executive

Leave a Reply