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GIFT City wants to be the new hotspot for IP registrations
Business
GIFT City in Gujarat is aiming to become a go-to place for registering intellectual property (IP), hoping to keep Indian ideas from heading abroad and attract global filings instead.
Inspired by successful international models, officials say they're working on ways to make GIFT City more competitive and appealing for innovators.
Why it matters: India's big IP opportunity
Right now, India gets just 0.5% of the world's $501 billion IP earnings—so there's a lot of room to grow.
Experts think GIFT City could draw startups and global companies by making IP registration simpler, though challenges like syncing with national offices and building strong legal systems remain key.