Government approves India-Singapore MoU to boost innovation, technological advancement

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It is intended to give a boost to innovation, creativity and technological advancement in both regions, it said.

“The Union Cabinet chaired by Prime Minister Narendra Modi has given approval to the MoU in the field of industrial property cooperation between DIPP and the Intellectual Property Office of Singapore,” it said.

The MoU will be signed at the upcoming visit of Singapore’s Prime Minister to India from October 4-7.

The priority initiatives under the pact would be exchange of best practices, experiences and knowledge on intellectual property awareness among the public, businesses and educational institutions of both countries.

Both sides would also exchange experts in the field of intellectual property; dissemination of best practices, experiences and knowledge on IP with the industry and universities.

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,” it added.

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 the National IPR Policy, it said.