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Indian patent process very slow: Vittal

The patent process in the country is very slow and the government should set up a Rs 1 billion fund exclusively to enable Indian products to get US patent, Central Vigilance Commissioner N Vittal said in New Delhi on Friday.

"The patent process is very slow in our country. Here, it takes six years to get a patent whereas in the USA, it takes hardly 22 months," Vittal said while releasing a book co-authored by him.

The government, he said, should set up a Rs 1 billion fund to help Indian firms in getting American patents.

"You can market better with a patent and it also helps in building brand equity," the CVC said.

Vittal said notwithstanding the divestment, public sector units will exist.

"They may get out of making breads and flying aeroplanes but they will exist as far as basic infrastructure is concerned," he said.

The book 'Public Sector Governance and Management - Emerging Dimensions' written by Vittal and S Mahalingam was released by Union Human Resource Development Minister Murli Manohar Joshi.

Joshi said no country in the world was willing to provide first rate technology to third world countries as they did not want competition.

"There is no ethics in the market economy. Only a family system can ensure balanced development," he said.

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