View: India needs to alter its ‘patent box’ regime as it aims for Atmanirbharta

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Atmanirbhar Bharat. These two words pack a lot of punch. The objective is to encourage domestic manufacturing, reduce reliance on imports and be globally competitive. For this, India Inc needs to innovate and invent. To boost such pursuits, several countries offer tax sops. Likewise, in 2016, a ‘patent box’ regime was introduced in India’s tax laws. But the response seems to have been lukewarm.Perhaps, it’s time we start with some innovation in

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