MUMBAI, 21 March, 2017: The new National Intellectual Property Rights policy of the Government of India has established a unified institutional mechanism for implementation, monitoring and reviewing of intellectual property (IP) and aims to incorporate and adapt global best practices to the Indian scenario. For the media and entertainment industry protection of IP was critical for encouraging innovation which leads to growth.

This was stated here today by Dr. S. Rama Rao, Senior Advisor, Intellectual Property, Technology Transfer and International Relations, Solstrat Solutions, at a session on ‘Own, Convert, Protect! Intellectual Property as a Driver of Innovation & Growth’ at the 18th edition of FICCI FRAMES.

In his Special Address, Dr. Rao said that with commercialization of innovation, IPR plays a critical role in protecting innovation. He added that there was a need to engage with stakeholders and review multilateral treaties with other countries on IP to strengthen the IPR regime.

The panelists comprising Mr. Hank Baker, Vice President, Government Affairs, Asia Pacific, MPA; Mr. Benoit Ginistry, Chief Representative, FIAPF; Mr. Thomas L. Vajda, US Consul General to Mumbai and Mr. Shridhar Subramaniam, President - India and Middle East, Sony Music Entertainment, Inc, were of the view that robust IPR policy framework and enforcement was needed to protect IP. As countries were moving towards becoming knowledge economies, it was necessary to protect IPR and highest priority should be accorded to it. The panel unanimously agreed that the policy philosophy should be to protect knowledge to spur innovation and investment.

The session was moderated by Mr. Ameet Datta, Senior Partner, Saikrishna & Associates.