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The Government of India has recently made amendments to the Patents Rules which is a step towards India’s endeavour to develop a user-friendly Intellectual Property regime which would facilitate as well as encourage innovation.
Increasingly, the global economy is dependent upon the creation and distribution of intellectual property (IP) to drive economic growth. However markets are plagued by fakes be it stamps, watches, cigarettes, cosmetics, pharmaceuticals, FMCG products, auto components, software, music, films etc resulting in significant loss to companies, corresponding evasion of tax duties and violation of the rights of the consumer.