India and Britain signed memoranda of understanding (MoUs) on intellectual property rights (IPR) and ease of doing business following delegation-level talks led by Prime Ministers Narendra ModiNarendra Modi and Theresa May here.
“Advancing business through agreements. The two leaders witness exchange of MoUs in Intellectual Property and Ease of Doing Business,” External Affairs Ministry spokesperson Vikas Swarup tweeted.
The MoU on IPR envisages establishing a mechanism for furthering cooperation between the intellectual property offices of India and Britain in the field of intellectual property and related information technology services, according to the External Affairs Ministry.
It will include exchange of best practices, experience and knowledge of intellectual peoperty awareness among the public, businesses, industry, research and development organisations and educational institutions, as well as on processes for disposal of applications for patents, trademarks, industrial designs and geographical indications.
The MoU on ease of doing business intends to make expertise from different departments of the British government which have led the ease of doing business drive in the Britain available to the relevant departments and agencies of the Indian government, according to the ministry.
It includes exchange between the officials, sharing of best practices and technical assistance for effective implementation of the initiatives of GOI to improve its ranking in the ease of doing business.
Important areas of cooperation include support to businesses and start-ups, tax administration, regulatory regimes, and competition economics.
Earlier on Monday, Modi and May addressed the India-UK Tech Summit here.
This is May’s first bilateral visit outside of Europe since she assumed the Prime Minister’s office in July this year.
She took over the prime ministership after David Cameron resigned following the historic referendum in June in which Britain voted to exit from the European Union. Cameron rooted for Britain to stay in the EU.
May’s visit comes a little less than a year after Modi’s visit to Britain in November last year.
May, who arrived here late on Sunday night on a three-day official visit to India, will also visit Bengaluru on Tuesday.