India and Japan deal on patents

The contract, which is tested experimentally, has been in force for 3 years. The Ministry of Commerce and Industry said on November 21 that this was the first agreement reached after the Union Cabinet approved the Bilateral Patent Prosecution Highway (PPH) proposal. He said the deal would help companies to invest more, innovate in technology and create employment opportunities to support the Make India India slogan. In 2014-15, the validity period of the patent application was 72 months. The central government expects to reduce it to 12-16 months by 2021. Permits are available within 67 days under the speedy policy. Over 6,000 patents were issued in 2014-15. It is estimated to reach 25,000 this year.

Quick Review:
What: India and Japan deal on patents
When: November 21st
Why: To speed up the process of issuing patents