Patents Regime for Start-Ups Simplified: Union Minister, Piyus Goyal
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“The Union Government has simplified the Patents regime for
Start-ups, MSMEs among others to encourage innovation”, said the Union Minister
of Railways and Minister of Commerce & Industry, Piyus Goyal.
Union
Minister was addressing the gathering after giving away Awards at the Global
Bio-India Summit, 2019 in New Delhi on Saturday.
Goyal
also assured the Department of Industrial will extend all support to new and
emerging enterprises in Biotechnology sector.
He
said biotechnology is a key sector to fulfill India’s aspirations. “The Prime
Minister’s Vision of New India is intertwined to DBT’s enterprising endeavors.
The aspirations of 1.3 billion Indians rests on our success to adopt
technology, – innovations that lead to transformations”, Goyal said.
He
stressed that India was the first country in the world to have a separate
Department of Bio-Technology. “Outside the US, the largest number of FDA
approved drugs, 523 in numbers, come from India. From the present nearly Rs 3.5
lakh crore worth of BT industry in India, the DBT aims to top Rs.7 lakh crore
output by 2025 and analysts say this could even touch Rs.11/12 lakh crores”.
