Summary:

India submitted over 92,000 patent applications in FY24, reflecting a growing interest in intellectual property (IP) protection. Innovative technologies are safeguarded every six minutes. According to Mr. Unnat Pandit, Controller General of Patents, ongoing updates to IP regulations involve active stakeholder participation. Improved efficiency at the Indian patent office has led to an increase in granted patents, with technologies meeting global standards despite existing challenges.

Last month, India ranked fourth globally in trademark filings, with approximately 90% originating from domestic applicants. It is among the top ten worldwide in patents, trademarks, and industrial designs. India’s trademark office holds around 3.2 million active registrations. Although India ranked 42nd out of 55 economies in the FY23 IP Index with a score of 38.64%, it shows strong potential to become a leader in emerging markets, though further improvements are needed.

Source: IBEF

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