London, Nov 13 (IANS): Prime Minister Narendera Modi has assured business leaders here that India will soon come out with a comprehensive national intellectual property rights (IPR) policy.

He also informed the business leaders of India's commitment to protection of intellectual property rights (IPR), a statement issued by the Prime Minister's Office (PMO) said on Friday.

"I am personally convinced and want to assure you that India is committed to protecting Intellectual Property Rights of all innovators and entrepreneurs," Modi said.

"We have taken several initiatives for transparency and online processing in IP administration. A comprehensive National IPR policy is being finalised," he added.

Modi on Thursday assured the business leaders of creating necessary conditions for the Indian economy to take-off.

"Never before was India so well prepared to absorb talent, technology and investment from outside. I can assure you that it will get better and better in the coming days. We will be open to welcome your ideas, innovations and enterprises," he added.

"We are open to carrying out necessary corrections in our policies and procedures," Modi said.