World IP Day Celeberation in India

It was the occasion of celebrating word IP day in India. The joint secretary of DIPP, Ministry of Commerce and Industries, Government of India, Mr. N.N Prasad was addressing the IP community. He told that India is making right move in development of robust IP system and very soon patent office is going to operationalize authority for ISR and IPEA. It is a movement of proud for IP community that India has been awarded such a status.

He told that the government is also putting efforts to protect our traditional knowledge. There has been misappropriation of Indian traditional knowledge in past for e.g. turmeric, basmati and now Yoga. He also discussed about hurdles coming in the way of transaction of generic drugs to other countries, since Indian is one of the biggest generic drug exporter.

Mr. Madhav Lal, the additional secretary and development commissioner for micro, small and medium size industries also shared his views on this occasion. He advised that Indian SME’s need more orientation for protection of their inventions.

The government has come up with various responses from time to time such as national competitive program with 280 crore rupees. This would help in building awareness for intellectual property and creating sensitization in SME plus conducting training. Ministry also has a plan to organize around 150 IP related programs over the period of 5 year and conducting pilot studies which would be a silent feature to support IP facilitation. He told the government has started another scheme under which concept of idea incubation and funding for its nurture has been introduced. Twenty five institutes have been approved under this scheme, assisting 6.25 lakh rupees per year for each idea and each institute would get fund for 10 ideas per year. Award giving program is also introduced. The objective of award is to promote inventors. Finally, Mr. Lal told that main barrier for SME is lack of resources, confidence, reliability and ministry is helping them to come over it.

The next blockbuster in queue..........

Rapamycin (sirolimus) derivative Everolimus (RAD-001) was developed and marketed by Novratis, Earlier the product was approved as immunosupressant under trade name Certican for rejection in heart transplantation and lately it was approved as an drug for treating kidney cancer and currently many researchers are considering the use of Everolimus and other mTOR inhibitors for different types of cancers...so wait for a new cancer blockbuster is not long :)