National IPR policy has been formulated with the mission to foster innovation, entrepreneurship and more.
A national Intellectual Property Right (IPR) policy will soon be taken up by the Cabinet for consideration, Commerce and Industry Minister Nirmala Sitharaman said on Thursday.
"We are taking it up. In fact it has already reached the cabinet secretariat. I hope it will come on the agenda of the cabinet soon," she told reporters here.
The national IPR policy has been formulated with the mission to foster innovation, accelerate economic growth, generate employment and entrepreneurship.
Besides, it aims at protecting public health, food security and environment, among other areas of socio-economic importance.
Developed countries like the US have time and again raised concerns over India's IPR laws, particularly related to solar and pharmaceutical sectors.
When asked about the impact of the Trans Pacific Partnership (TPP) on India, she said: "We are definitely looking into the aspects of TPP and the impact it will have on India's trade".
TPP is a mega trade deal among 12 countries, including the US.