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"By 2017 trade mark registration will take only a month, not a year," he said.

Jaitley announced that the policy envisages many things starting online while there has been a huge change in copyright sector.

"Nodal agency to be Department Of Industrial Policy & Promotion, not Ministry of Human Resource Development which did it for copyright of books," he said.

The IPR policy was cleared by the Union cabinet on Thursday.

"Films, music, industrial drawings will be covered by copyright.
The objective behind the IPR policy is quite clear, when there are new inventions, when there is growth in trade, commerce and industry, an IPR must be there to protect them," the Minister said.

"One of the underlying factors is that each man must sell his product under his / her own name and identity," he announced.

The NDA government had set up an IPR think tank in 2015 which submitted its report in April 2015.