New Delhi, April 28 (IANS). Union Commerce and Industry Minister Piyush Goyal on Tuesday made a big announcement that all intellectual property (IP) registrations related to sports, including trademarks, copyrights, patents, designs, traditional knowledge and Geographical Indications (GI), will be duty free for a period of three years, with immediate effect. The announcement was made by the Union Minister while addressing the World Intellectual Property Day celebrations in the national capital, the theme of which was ‘IP and Sports: Ready, Start, Innovate!’
An official statement said that the aim of the government is to promote innovation in the sports sector and encourage new ideas.
Piyush Goyal said that the government is not only waiving the fees, but innovators, students, artisans and other stakeholders will also be provided assistance in IP registration. This will make it easier for people to protect their idea and turn it into an asset. He appealed to the people to convert their every new idea into IP and get it registered.
Referring to the Kashmir Willow cricket bat, Piyush Goyal said that it is a symbol of India’s craftsmanship and IP strength. It is an important GI-tagged sports product of the country. He stressed on promoting it globally and increasing its production in Jammu and Kashmir.
The minister talked about developing sports manufacturing clusters in areas like Jammu and Kashmir and Meerut. He said that it is necessary to increase the production of sports goods like bats, balls, hockey equipment and gym equipment in the country, so that the domestic industry becomes stronger and new employment opportunities are created.
Giving the mantra of ‘Innovate, Patent, Produce, Achieve Prosperity’, Piyush Goyal said that people should develop new ideas, patent them, increase production and reach the global market. Referring to the India-New Zealand Free Trade Agreement (FTA), he said that this will provide new opportunities to Indian innovators at the international level.
The minister also launched the ‘Develop India Digital Matrix 2026’ design hackathon, which focuses on smart wearables. This is a six-month program, in which innovative products will be created by combining new technology and design. Its objective is to inspire youth to convert new ideas into real products.
Piyush Goyal further said that sports is no longer just entertainment but has become a big economic sector. The value of franchise cricket teams has increased tremendously over the last 18 years, reflecting the commercial importance of sports.
Referring to the government’s Sports Policy 2025, he said that sports facilities are being increased across the country and sports are being encouraged at the school level. Also, companies were appealed to develop sports infrastructure, open gyms and facilities in rural areas through CSR funds.
–IANS
DBP