New Delhi [India], April 28 (ANI): In a significant boost to India's sports ecosystem, Commerce and Industry Minister Piyush Goyal on Monday announced that all intellectual property registration fees, covering trademarks, copyrights, patents, designs, traditional knowledge, and geographical indication products will be waived for the sports sector for three years, effective immediately. The Commerce Ministry will issue a formal notification to this effect, he said.

Goyal made the announcement at the World Intellectual Property Day celebrations organised by FICCI in association with DPIIT and CIPAM on April 28, 2026.

'From today, as a special drive to promote sports, the fees will be zero,' the Minister said, adding that the scheme will be reviewed after three years. Details will be shared on the official website for anyone in the sports ecosystem wishing to participate.

Beyond the fee waiver, Goyal announced a support scheme under which individuals with new ideas will be guided through the IP registration process. 'We have a scheme by which we provide you the support to get it registered and make your journey easier to become a part of the IP ecosystem,' he said, urging students, artisans, and young innovators to act quickly. 'Every new idea, please convert it into your IP asset very quickly, before somebody else does -- or before somebody else does it internationally,' he said.

Underlining the economic dimensions of sport, Goyal pointed to the massive valuations of global sporting franchises. Each English Premier League football club is today worth anywhere between USD 8-12 billion. By contrast, the IPL -- watched by 500 to 600 million people -- is currently valued at USD 1.5 billion. However, Goyal expressed confidence that within five to seven years, IPL would be competing with the English Premier League in terms of value, driven by India's rising prosperity and growing sporting culture.

The Minister also called for the creation of sports goods manufacturing clusters to promote Made-in-India products, and suggested that open gym equipment manufacturing be scaled up. He encouraged corporates to direct CSR spending towards sports, signalling a broader policy push to develop sports as an industry.

Goyal also sounded a note of caution for sportspersons and social media influencers, warning against misleading advertising -- particularly around nutrition and protein supplements. 'A lot of misleading and mischievous advertising has been happening,' he said, noting that celebrities and influencers have faced trouble due to inadequate disclosures. 'Please always maintain caution so that it doesn't cause you any difficulty later on,' he advised. (ANI)