Innovation

Guest Post: No Man’s Land


Here is a funny take take on the Innovation Bill by Suchita. Suchita will not be able to post regularly because of her job and other commitments. You should however be on the look out for guest posts by her once in a while.
In our earlier posts (which can be found here and here) we have extensively dealt with the draft legislation, the National Innovation Act 2008. Its quite interesting to note that, yet to become law, this draft legislation, is already bringing out the enterprising spirit of our fellow countrymen. An example of such enterprise can be found on clicking here. Christened IPR Land, one assumes this piece of tagged land aims to attract the provisions relating to Special Innovation Zones in the draft legislation. (Image from here).

For the purposes of background, Special Innovation Zones, as defined in the legislation, are, “zones notified by the Government of India in the Ministry of Science and Technology established for the purposes of clustering enterprises engaged in scientific, mathematical, technological or engineering research or services, for the purpose of innovation.”

In brief, under the draft legislation, being a part of the Special Innovation Zone enables one to be entitled to fiscal benefits inclusive of tax holidays on profits, income-tax exemption, exemption of capital gains on transfer of assets, exemption from Customs duty and excise duty on all goods sourced.

(For detailed write-ups click here and here)

The issue then is does IPR Land satisfy the criteria of being a Special Innovation Zone? Well, Go Figure!

On a more important point, this legislation seems to have faded away from the limelight. Maybe our government should borrow a bit of Mr. Durairaj’s enterprising spirit and press on with the legislation.

P.s. if anyone is interested, listed below are more links to IPR lands:
1. Awg IPR’s land and
2. Pratipalsinh Rayjada’s (IPR) Land

We would like to know what goes on here…

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