Govt Reduces Patent Fees for Educational Institutions by 80%, Aims at Giving Boost to Innovation in 'Knowledge Economy'

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The Central government has amended the rules of the patent and offered a fee rebate of 80 per cent for higher education institutes. This, claims the government, will give a push towards Aatmanirbhar Bharat and make India a knowledge economy.

At the time of applying for patents, the innovators have to apply for these patents in the name of the institutions which have to pay fees for the same. Claiming that high patenting fees present a restrictive element for getting these technologies patented and thus work as a disincentive for the development of new technologies, the government has slashed the fee. This would be beneficial for institutions which engage in research activities which need to be patented for facilitating commercialization of the same.

To encourage greater participation of the educations institutions, who play a pivotal role in the country’s innovation, official fees payable by them in respect of various acts under the Patents Rules, 2003, have been reduced by way of the Patents (Amendment) Rules, 2021, which came into effect on September 21, the Ministry of Education said in an official statement.

“Recognizing the importance of nurturing innovation and creativity in a knowledge economy, India is taking great strides in strengthening its intellectual property ecosystem in recent years. In order to create a conducive environment for innovation, the Department for Promotion of Industry and Internal Trade has been working towards promoting greater collaboration between industry and academia. This can be achieved by facilitating commercialization of research undertaken in educational institutions,” an official statement said.

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