With the number of patents and trade marks applications expected to more than double in the next three years, the government plans to spend Rs 300 crore on modernisation of Intellectual Property Offices (IPO).
The Department of Industrial Policy and Promotion (DIPP) has finalised the modernisation plan for the patent offices so that they are able to clear the applications faster without compromising quality.
"The plan project for modernisation and strengthening of IPOs have been formulated at an estimated cost of Rs 300 crore," the DIPP plan document on modernisation and strengthening of IPOs said.
Expenditure Finance Committee has approved the project under the 11th Five Year Plan.
The number of patent applications is likely to go up to 72,000 in 2011-12 from 28,882 in 2006-07. The number of trade mark applications is anticipated to increase to 2,05,000 from 1,03,419 during the same period, the DIPP document said.
"The IPOs are not able to examine the increasing number of applications for patents, designs, trade marks and geographical indications which are to be examined in a reasonable time frame without compromising on quality," it said.
