NEW DELHI: The Union Cabinet today gave its approval to the Memorandum of Understanding (MoU) between India and Sweden on cooperation in the field of Intellectual Property (IPRs).
Briefing reporters after the Cabinet chaired by Prime Minister Narendra Modi here, Finance Minister Arun Jaitley said the MoU establishes a wide ranging and flexible mechanism through which both the countries can exchange best practices and work together on training programs and technical exchanges to raise awareness on IPRs and better protect intellectual property rights.
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.
The exchange of best practices between the two countries will lead to improved protection and awareness about India’s range of Intellectual creations which are as diverse as its-people.
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 National IPR Policy, 2016. (AGENCIES)
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