New Delhi [India], December 15 : The Union Cabinet approved a Memorandum of Understanding (MoU) between India and Italy for cooperation in the field of industrial property Rights.
The cabinet chaired by Prime Minister Narendra Modi on Friday gave its approval for the signing of the MoU between the "Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry of India and the Directorate General for the Protection of Industrial Property-Italian Patent and Trademark Office of the Ministry of Enterprises and Made in Italy of the Italian Republic," an official release said.
Moreover, the MoU will promote the establishment of a mechanism that will allow India and Italy to develop cooperation activities in the field of Industrial Property (IP) and information technology services related to this field.
"The purpose of the MoU is to support enterprises, especially start-ups and SMEs, in accessing and participating in the national and international IPR systems," the release stated.
Manish Desai, Principal Director General of the Press Information Bureau, took to his social media X and emphasised that the MoU will provide an opportunity for exchange and dissemination of best practises.
"Cabinet approves Memorandum of Understanding between India and Italy on Cooperation in the field of Industrial Property Rights The activities under the MoU will provide an opportunity for exchange and dissemination of best practices," he said.
https://twitter.com/DG_PIB/status/1735664288801653243
Additionally, the MoU seeks to streamline the procedures related to the processing of IPR applications, foster IP awareness, and encourage IPR commercialization and enforcement.
The activities under the MoU will provide an opportunity for the exchange and dissemination of best practises, experiences and knowledge in the field of IPRs through participation in programmes and events, organised singly or jointly by the participants.
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