Summary:

Patent applications by startups and MSMEs increased by 310% over five years, rising from 1,492 in 2018–19 to 6,120 in 2023–24, according to Joint Controller N. Ramchander. Since 2021, the National Intellectual Property Awareness Mission has educated more than 2.4 million students and faculty members about intellectual property rights. Overall, patent applications grew by 116%, while patent grants surged by 1,624%, reaching 103,057 in 2023–24.

India's IPR policy provides a comprehensive framework for IP creation, protection, and commercialisation; however, continuous evaluation and revision are necessary. Patent regulations were amended in 2024 to simplify and streamline procedures, thereby fostering innovation and strengthening IP protection. To formally recognise inventors, a certification of inventorship was introduced. Additionally, the filing frequency for ‘working statements of patents’ was reduced from annually to once every three years to ease compliance requirements.

Source: IBEF

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