Centre approves India-Singapore MoU to boost innovation

The government on Wednesday approved signing an MoU with Singapore to give boost to innovation, creativity and technological advancement in both countries.

“The MoU will enhance bilateral cooperation activities in the arena of industrial property rights of patents, trademarks and industrial designs,” an official statement said.

It is intended to give a boost to innovation, creativity and technological advancement in both regions, it said.

“The Union Cabinet chaired by Prime Minister Narendra Modi has given approval to the MoU in the field of industrial property cooperation between DIPP and the Intellectual Property Office of Singapore,” it said.

The MoU will be signed at the upcoming visit of Singapore’s Prime Minister to India from October 4-7.

The priority initiatives under the pact would be exchange of best practices, experiences and

knowledge on intellectual property awareness among the public, businesses and educational institutions of both countries.

Both sides would also exchange experts in the field of intellectual property; dissemination of best 

practices, experiences and knowledge on IP with the industry and universities.

The MoU will enable India to exchange experiences in the innovation and IP ecosystems that will substantially benefit entrepreneurs, investors and businesses on both sides.

It will be a landmark step forward in India’s journey towards becoming a major player in global innovation and will further the objectives of the National IPR Policy, it said. PTI