BUSINESS

Centre on course to expedite patent filings

The Commerce and Industry Ministry is taking several steps including hiring more people and training them to reduce the time and pendency of patents and trademark applications, an official said on Wednesday.

Big bane

Joint Secretary in the Department of Industrial Policy and Promotion Rajiv Aggarwal said that the “biggest bane of our system” is the time consumed in processing of intellectual property (IP) applications.

“Last year, the first examination of trademark applications was taking almost a year and a half. Today that time has come down to about 4-5 months and by March 2017, it will come down to only one month,” Mr. Aggarwal said here at the CII’s India — United Kingdom Tech Summit. Mr. Aggarwal said that this was happening because the ministry had augmented its manpower and was training them. — PTI