Indian Innovation Act: Illustrating the Impact

November 10, 2008 | BY

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Manisha Singh NairLex OrbisThe Indian government has released the draft legislation on the National Innovation Act of 2008 (NIA). The proposed legislation…

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Manisha Singh Nair

Lex Orbis

The Indian government has released the draft legislation on the National Innovation Act of 2008 (NIA). The proposed legislation aims at giving a push to innovation, which shall provide a measurable value enhancement or economic significance in terms of increased market share, competitive advantage, improvement in the quality of products or services and reduction of costs.

The Preamble to the NIA elucidates the objective of the Act to aid innovators and researchers exploit the fruits of their innovations to the maximum