With reference to the World Intellectual Property Indicators 2019 Report consider following statemen...........

Economic Affairs Intellectual Property Rights (IPR)

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With reference to the World Intellectual Property Indicators-2019 Report, consider following statements

As per Report, India has emerged as the top tenth nation in the ranking of the total (resident and abroad) Intellectual Property (IP) filing activity.
The National IPR Policy, launched in May 2016, to promote strong IP regime in the country encourages innovation to achieve Country's industrial and economic development goals.

Select the correct statement.

1 only

2 only

Both

None

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Explanation:

As per World Intellectual Property Indicators-2019 Report, India has emerged as the top tenth nation in the ranking of the total (resident and abroad) Intellectual Property (IP) filing activity. With government push to schemes like ‘Make in India’, ‘Skill India’ and now ‘Atma-nirbhar Bharat’, IP Filing and grant activity is likely to increase. IP-intensive industries have been identified as an important and integral part of a country’s economy and account for more jobs and a larger share of its GDP. The National IPR Policy, launched in May 2016, to promote strong IP regime in the country encourages innovation to achieve Country's industrial and economic development goals. This will provide efficient IP ecosystem and build up pace of industrial growth in the country. Hence both statements are correct.