New Delhi: Innovations and creativity are the driving forces behind India’s competitiveness and economic future in 21st century, said BB Swain, Secretary, MSME, adding that one of the Ministry’s important tasks is to protect innovative ideas through the provisions of intellectual property rights which enables the MSME sector to progress further.

“MSMEs in the country are the driving force leading to a large number of innovations and contribute to the Indian economy by creating jobs, investments and exports,” he added, while addressing the ‘5th Edition of IPTSE Awards and IP Conclave’ organized by FICCI.

He said that the National IPR Policy approved in 2016 lays the roadmap for intellectual property in India. “DPIIT is mandated to coordinate implementation of Start-up India initiative with other government departments like Department of Science and Technology, Department of Biotechnology, Ministry of Labor and Employment along with Ministry of Corporate Affairs and NITI Aayog,” he added.

Swain further stated that in the 21st century, innovations and creativity are the driving forces behind India’s competitiveness and economic future. The Ministry of MSME has set-up 88 intellectual property rights facilitation centers in the country, added Swain.

Arun Chawla, Director General, FICCI, said that India still has much ground to cover in order to become a world-class innovative and creative nation.

“We have a relatively low level of awareness among the country’s youth about IPR. In a tech-driven world that rewards innovation, it is important that youngsters understand the benefits of IPR in safeguarding their innovations and creations; and the competitive edge that it provides in ‘nation building.’ India’s IPR Policy, rightly emphasizes the need to encourage and incentivize IP generation and its utilization among students at all levels, and the use of awareness programs to inculcate an appreciation for the value of IP,” he added.

Monica Magnusson, Vice President, IPR Policy, Ericsson, Sweden, stated that India is poised for greater heights with great initiatives being taken by the Indian government. Justice Prathiba Maninder Singh, Judge, High Court of Delhi, also addressed participants and felicitated the winners of the IPTSE Awards. /BI/