Special Correspondent

VISAKHAPATNAM: “Intellectual Property Right is a powerful tool for creation of wealth. But few understand it. There is an urgent need to create awareness about various aspects of the IPR,” said T.C. James, Director, IPR, Department of Industrial Policy and Promotion, in the Central Government.

He was addressing a meeting on the topic organised by the Confederation of Indian Industry in collaboration with the Controller-General of Patents, Designs and Trademarks and the Department of Industrial Policy and Promotion here on Saturday. It was part of CII-DIPP nation-wide awareness campaign on IPR. Citing an example of how IPR enabled Toyota and Bill Gates create wealth, Mr. James said that the purpose of awareness campaign was to demystify the concept and help industry get benefits from it. People were breaking the IPR law without knowing it. Knowledge was very important to protect IPRs. After the Second World War, there was technology explosion and it was Japan that had registered the maximum number of patents, he said. Commissioner of Customs (Visakhapatnam) M. Ponnuswamy, who was the chief guest, said IPR involved not only creation of wealth but also its protection and promotion. Recalling how India excelled in making innovations right from ancient times, he said that only after Independence we woke up to the reality. Asserting that India had the potential to become knowledge-based economy, he strongly advocated R&D, for which change of mind-set was required.

In his welcome address, K.V. Bhaskar, chairman of CII Visakhapatnam Zone, said that IPR was a key issue confronting Indian industry. In the background of globalisation and increasing role of innovation, IPR played an important role, he said. Sensitisation would go a long way in helping industry, he said. G.S. Sivakumar, Past chairman, CII Visakhapatnam Zone, KNVN Murthy, Head-Vizag Zone, participated.