Govt Waives IP Fees For Sports Sector For 3 Years, Launches Design Hackathon

Govt waives IP fees for sports sector for 3 years, launches design Hackathon (Image Source: IANS)

Industry Minister Piyush Goyal: Union Commerce and Industry Minister Piyush Goyal on Tuesday announced a three-year waiver on fees for all intellectual property (IP) registrations related to sports, in a move aimed at boosting innovation and strengthening India’s sports ecosystem.

The announcement was made during the World Intellectual Property Day celebrations in the national capital, themed “IP and Sports: Ready, Set, Innovate!”.

The fee exemption will cover all categories of IP, including trademarks, copyrights, patents, designs, traditional knowledge and geographical indications, and will come into effect immediately.

The minister said the initiative is part of a special drive to encourage innovators, students, artisans and stakeholders to actively participate in the IP ecosystem.

“Alongside the fee waiver, the government will provide facilitation support under existing schemes to simplify the process of filing and securing IP rights,” Goyal said.

Highlighting the growing importance of intellectual property in sports, Goyal urged stakeholders to convert ideas into IP assets at an early stage to secure ownership and unlock value.

He reiterated the government’s vision of “innovate, patent, produce and prosper” as a pathway for economic growth.

During the event, the minister also felicitated the Jammu and Kashmir Ranji Trophy team for their historic performance, including a landmark victory after 67 years and a notable win against Karnataka.

He described the achievement as a reflection of the region’s rising sporting potential and an inspiration for young athletes.

Goyal underlined the importance of the Kashmir willow cricket bat, calling it a symbol of India’s craftsmanship and IP strength.

He noted that it is among the first sports-related products in India to receive a Geographical Indication (GI) tag and stressed the need to promote its manufacturing in Jammu and Kashmir to enhance its global presence.

Goyal underlined the importance of the Kashmir willow cricket bat, calling it a symbol of India’s craftsmanship and IP strength.

He emphasised the need to scale up domestic manufacturing of equipment such as bats, balls, hockey gear and training aids to strengthen local value chains.

Article Source: IANS