Intellectual property real strength of economic growth: Academician

Intellectual property has emerged as the strongest foundation of economic growth in today’s era of knowledge, innovation, science and technology, said eminent academician and Director, ITAG Business Solutions Limited, Dr Dhanpat Ram Aggarwal while delivering an expert lecture at Maharshi Dayanand University (MDU).

The expert lecture on the theme “Role of intellectual property and innovation in economic development” was jointly organised by the Faculty Development Centre (FDC), Centre for IPR Studies and the Research and Development Cell of MDU.

Dr Aggarwal emphasised that for India to become a developed, prosperous and self-reliant nation, it must significantly increase its share in the global GDP. This can be achieved by transforming human resources into intellectual property and ensuring effective protection of intellectual property rights.

Dr Aggarwal further stated that a strong intellectual property system rests on five key pillars — creativity, protection, enforcement, commercialisation and awareness. He emphasised the need for stronger collaboration between academic institutions and industry to foster innovation-driven growth. Emphasising sustainable development, he said that natural resources should be utilised judiciously and not exploited in the name of development.

Presiding over the programme, Vice-Chancellor Professor Rajbir Singh stated that universities must go beyond being centres of knowledge and evolve into hubs of innovation and entrepreneurship. He emphasised the importance of connecting research and technology with society and industry while adopting a “local to global” approach.

On this occasion, the Vice-Chancellor announced the establishment of an IPR Chair and a Technology Transfer Centre at MDU. He said these initiatives would enable faculty members and research scholars to convert their innovations into patents, startups and commercial products, thereby contributing significantly to nation-building.

Earlier, FDC Director Professor Munish Garg, delivered the welcome address, while Dean, Research and Development, Professor Harish Dureja, highlighted the relevance of the lecture theme. The programme was conducted by Professor Divya Malhan and the vote of thanks was presented by Dr Rajiv K Kapoor. Deputy Director FDC Dr Madhuri Hooda extended coordination support. The event was attended by Deans, Directors, Heads of Departments, faculty members, research scholars and students in large numbers.