Minister of Commerce and Industry, Consumer Affairs & Food & Public Distribution and Textiles Piyush Goyal said that technology & ideas are the twin engines of growth and Intellectual Property Rights (IPR) is the fuel that powers them. He said there is need to bring an IP revolution for Inclusive Progress in the nation and strengthening IPR laws. He said it will boost job creation, quality, competitiveness & manufacturing. The Minister said that powered by Intellectual Property, India can be the "Innovation Powerhouse" of the world. Shri Goyal said that Intellectual Property Rights actually translates into India's progress in real-time and extend Intellectual Property Right to India's Prosperity Right. He said, we must aim to make India the Design hub of World. It is the key for success of Start-up India, Make in India & Design in India. Goyal further said that IP has the power & potential to change lives & create livelihoods for billions. India recorded 572% growth in grant of Patents in last 7 years. A total of 28,391 patents were granted in 2020-21 as compared to 4,227 grants during 2013-14.
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