Abstract: IPRs are essential for the encouragement of creativity and innovation. India has a rich cultural and intellectual heritage with an immense spectrum of traditional knowledge systems, including medicines, arts, crafts, and literature. Effective promotion and protection of IPR would greatly contribute to the preservation and enhancement of these knowledge systems, as well as further innovation within such systems. The IPR regime in India has definitely strengthened over the years, yet challenges like piracy, counterfeiting, and lack of awareness remain. An in-depth analysis of IPR in India has been included, examining its past, types, and importance, alongside its role of protecting and promoting Indian knowledge systems. The study proceeds to outline the challenges surrounding the implementation of IPR and present some strategic interventions for strengthening IPR's role in innovations and economic advancement. Then, the paper studies some successful IPR cases in India and presents policy suggestions to further improve the system.

Keywords: Intellectual Property Rights, Indian Knowledge Systems, Innovation, Cultural Heritage, Economic Growth, Policy Recommendations.