Press Releases

Competition and Intellectual Property Protection should work in Favour of Innovation and Consumer Welfare, Dr V K Saraswat, Member, Niti Aayog

July 04, 2019, Hyderabad: Indian School of Business (ISB) organised the second edition of India Conference on ‘Innovation, Intellectual Property and Competition’, here today. The conference is supported by NITI Aayog.
 
The objective of this conference was to bring together scholars, practitioner and policymakers to discuss the implications of innovation and intellectual property for business strategy, competition, and social welfare.  
 
Dr V K Saraswat, Member, NITI Aayog, in his keynote address said: “In today’s world, Jugaad does respond, but in the long run it is the technology that matters. Hence it is important to have a robust ecosystem to support innovation. This calls for a balance between the competition laws and the Intellectual Property protection system that works in favour of innovation and consumer welfare. A strong intellectual property based innovation system has multiple benefits – strengthens the economy, promotes local innovations, help MSMEs, consumers and society.”  
 
Professor Rajendra Srivastava, Dean ISB, in his address, opined that 63% of the value of assets in India are intangible (which is 74% in the USA), which reflects the importance of intellectual property rights. Talking about the Indian innovation ecosystem, he said: ‘In order to strengthen the innovation ecosystem in India there is a need to focus not only on Make in India but also Design in India and Invent in India. Too much of assembly may not generate value.”
 
The conference Co-Chair, Professor Anand Nandkumar, Associate Professor of Strategy and Entrepreneurship, ISBtalked about the importance of the conference and said: “Through this conference, we aspire to capture the collective wisdom on what should be innovation policy and how the intellectual property ecosystem should be to support this.”
 
The conference also had a panel discussion on the role of diplomacy in shaping IP and trade, where three seasoned diplomats shared their perspectives.
 
Talking in this panel, Dr E Vishnu Vardhan Reddy, IFS, Head of MEA, Branch Secretariat, Hyderabad talked about Innovation Diplomacy, which addresses the innovation not just from R&D research but more as a value chain. It takes other stakeholders into diplomatic considerations.
 
Dr Adnan Altay Altinors, Consul General, Turkey in Hyderabad, in his address opined that the pace of innovation is sufficient to solve almost 99% of global problems, but due to the difference between corporate interests and societal interests, we are collectively stressed.
 
Mr Menashe Menis, Public Diplomacy Officer, Embassy of Israel in India, talked about the dilemma of risks and benefits in diplomatic approaches in shaping intellectual property and international trade.
 
The other panels focused on Artificial Intelligence, the consequences of IPR on agriculture, healthcare, ICT and media.
 

About the Indian School of Business:

Indian School of Business (ISB) is a global business school offering world-class management education across its two campuses - Hyderabad and Mohali. The School has grown at a rapid pace over the past eighteen years since its inception and already has several notable accomplishments to its credit – it is the youngest school ever to consistently rank among the top Global MBA programmes, one among the select 100 global b-schools to have AACSB and EQUIS accreditation, one of the largest providers of Executive Education in Asia, and the most research-productive Indian management institution. A vibrant pool of research-oriented resident faculty, strong academic associations with leading global b-schools and the backing of an influential Board, have helped the ISB fast emerge as a premier global business school in the emerging markets. For details visit http://www.isb.edu/ Click or tap if you trust this link.">www.isb.edu.