Financial Daily
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Friday, April 27, 2001



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More funds to modernise Patents Office urged

Our Bureau

NEW DELHI, April 26

THE Parliamentary Standing Committee on Commerce has recommended a ``substantial'' increase in the allocation of funds for the modernisation of Patents Office.

While analysing the demands for grants 2001-02 of the Department of Industrial Policy and Promotion (DIPP), the committee has also asked the department to take up technological and infrastructural upgradation of the Patents Office in ``right earnest''.

On the foreign direct investment (FDI) front, the committee has strongly favoured harmonious development of all regions of the country and recommended that a specific strategy be formulated to increase FDI inflows in backward States.

The committee said the feasibility of opening up other sectors so as to allow FDI under the automatic route may be examined by the DIPP.

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