India signs final act of Riyadh Design Law Treaty, reaffirms commitment to strengthen IP framework
4 months ago

India signs final act of Riyadh Design Law Treaty, reaffirms commitment to strengthen IP framework

Live Mint  

New Delhi: India has signed the Final Act of the Riyadh Design Law Treaty, reaffirming its commitment to fostering inclusive growth and strengthening its intellectual property ecosystem, the commerce ministry said in a statement on Tuesday. The treaty, adopted after almost two decades of negotiations under the World Intellectual Property Organization, seeks to harmonise industrial design protection processes globally, benefiting stakeholders across industries, including small and medium enterprises. Double-digit growth “India’s rich legacy of creativity and craftsmanship underpins its robust policy framework supporting design as a catalyst for innovation and economic development,” the ministry said. Also Read | India ranks among top 10 globally for patents, trademarks, industrial designs With 64,480 patent applications, India now ranks sixth worldwide, crossing a threshold as Indian filings accounted for over half the total for the first time, as reported by Mint.

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