India on Monday became a signatory to the Madrid Protocol for International Registration of Marks, a development that will enable Indian companies to register their trademarks in several countries by filing a single application.

Joining the Madrid Protocol on trademarks at the World Intellectual Property Organisation will allow Indian companies to register their trademarks in nearly 89 countries, including the European Union. Previously, different applications had to be submitted to register trademarks in different countries.

Last year, companies made a total of 44,018 applications for trademark registrations under the Madrid System. The figure represented an increase more than 4 per cent year-on-year.

Speaking on the topic, Commerce Minister Anand Sharma said, "We recognise that this instrument will provide an opportunity for Indian companies. to register trademarks in member countries of the protocol through a single application, while also allowing foreign companies a similar dispensation."

Under the Madrid system, an international registration generates the same effect as an application for registration of a mark in each of the contracting sides designated by the applicant. The Madrid System of trademark is a cost-effective and easy way to protect and managing trademark portfolios globally.

India is the 14th in the list of G-20 economies to accede to the Madrid Protocol on trademarks.