India is fast becoming the largest and most diversified market in the world,” said Ariel Pollock, public affairs officer, US Consulate General, at the IPR Fiesta held at the VIT University campus in Chennai. “As a mark of commitment, the US and India have added a special commercial track to the US-India strategic dialogue so as to provide both our countries a chance to explore the possibilities of improving connectivity, enhancing investment, doing business easier and ultimately reaching a 500 billion dollar mark in bilateral trade,” she said.
India will soon become a net producer of technologies as firms are creating new products and solutions that need IPR protection to innovate, attract investment and compete in the global markets, she pointed out. “About 15% of start-ups in Silicon Valley are founded by Indians and Indian Americans, a community that forms just one per cent of the US population,” she said.
The two-day programme jointly held by VIT University and the US Consulate is the second such programme in two years. The conference on IPR saw discussions with IPR experts, industry personnel and students on the first day. On the final day, there was a hands-on session for engineering students on how to apply for patents for their projects as part of their coursework, explained Kadhambari Viswanathan, assistant vice-president, VIT University.