NEW DELHI: The Union budget reflects the Government's desire to strengthen World Trade Organisation-related bodies such as the Intellectual Property Office under the Department of Industrial Policy and Promotion in the Ministry of Commerce and Industry.
The Controller-General of Patents, Designs and Trade Marks has been allocated Rs. 23.71 crore as compared to Rs. 17.37 crore spent during the current fiscal and Rs. 20 crore allotted in the previous budget.
This office administers laws relating to industry property rights such as the Patents Act, the Designs Act, the Trade Marks Act and the Geographical Indication of Goods Act.
Modernisation and strengthening of the Intellectual Property Office will cost the Government Rs. 30 crore during the next fiscal. This outlay will also ensure modernisation of the Trade Mark Registry and the Patents Office.