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The Centre’s move on royalty for patent developed and registered in India will drive companies to file more patents and monetise their research and development investment, said Virender Aggarwal, CEO, Ramco Systems, a Chennai-based software product firm. Also exempting 100 per cent of profits for start-ups involved in innovation development in technology will boost the product ecosystem to flourish. Ramco, being a provider of aviation solutions, is also happy to note an action plan being drawn out in the Union Budget 2016-17 to revive the unserved and under-served airports, he said in a release.
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