Reflect on the economic impact of copyrights on India’s national economy. Examine what would happen if copyright is a permanent right.

The intellectual property system is oneof the corner stones of modern economic policy at the national level. It is increasingly becoming an important tool for sustainable development.Understanding and appreciating the social, cultural and the economic foundations of intellectual property and the copyright system, is a prerequisite for comprehending its increasing importance and role in national strategies for enhancing competition. Intellectual property is not an end in itself; it is a means to an end, a catalyst for accelerating social, cultural and techno-economic growth and development in our countries. Its effective protection and use spurs socio- economic growth through providing the necessary incentives for increasing creativity, inventiveness and competitive capability. A quality conscious approach towards economic management would generate higher growth and greater resources for social programs. Intellectual property comprises creations of human mind, of the human intellect. It consists mainly of two branches, one dealing with industrial property comprising technological inventions, utility models, trademarks for goods and services, industrial designs, etc. and the other being copyright. Copyright protects literary, artistic, musical, photo, pictorial, graphic and sculptural works, audiovisual works, films, computer programs and software etc. as well as related rights, i.e. rights neighbouring on copyright, namely, the rights of performing artists, producers of phonograms and broadcasting organizations.The existence of such exclusive rights is also the legal basis for contractual arrangements between the creators or the ones developing the idea, on the one hand, and the institutions or entrepreneurs wishing to use those ideas in the manufacturing process, on the ___ _________ _______ ______ ____ ____ ______ ___ ___.
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