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Union Finance Minister Arun Jaitley announced the must awaited National Intellectual Property Rights Policy today. Making the announcement, Jaitley said there are seven objectives that guided the policy mechanism, which include IPR public awareness, stimulation of generation of IPRs, need for strong and effective laws and strengthening enforcement and adjudicatory mechanisms to combat infringements. He said the aim of the policy is to create awareness about economic, social and cultural benefits of IPRs among all sections of society. With the new IPR policy, trademark registration would take 1 month from 2017. Jaitley said that timeframe for trademark registrations would be reduced to 1 month starting 2017.