Q34. With reference to the ‘National Intellectual Property Rights Policy’, consider the following statements:
It reiterates India’s commitment to the Doha Development Agenda and the TRIPS Agreement.
Department of Industrial Policy and Promotion is the nodal agency for regulating intellectual property rights in India.
Which of the above statements is/are correct? a) 1 only b) 2 only c) Both 1 and 2 d) Neither 1 nor 2
The correct answer is Both 1 and 2.
National Intellectual Property Rights Policy:
The National Intellectual Property Rights Policy aims to create a country-wide ecosystem that fosters innovation and creativity in terms of IP awareness and creation, commercialization, and enforcement.
The nodal department has been designated as the Department of Industrial Policy and Promotion (DIPP). Hence, statement 2 is correct.
India introduced this policy as part of its commitment to the Doha Development Agenda and the TRIPS Agreement. Hence, statement 1 is correct.
The National Intellectual Property Rights Policy encompasses and unifies all IPRs on a single platform.
It intends to incorporate and adapt global best practises to the Indian context.
TRIPS Agreement:
TRIPS is an acronym for Trade-Related Aspects of Intellectual Property Rights. It is an international legal agreement between all World Trade Organization (WTO) member countries. It went into effect on January 1, 1995.