IPR Newsletter – India Granted 41010 patents in 2023-24 (A Robust Achievement) : Jan 2024
Introduction
India’s achievement of granting 41010 patents in the 2023-2024 period is indicative of a robust
ecosystem for innovation and IPR. India’s Patent Office has made a positive trajectory in
innovation which underscores the country’s commitment to fostering a knowledge-driven
economy. After consistently lagging in the past years in IPR we have achieved a historic milestone
in patent grants in 2023-2024.
According to the WIPO India has recorded almost 572% growth in the last 7 years which is a
great achievement for India.
Numerical Data Of The Patent Grants
If we consider the numerical data of the fiscal year 2013-2014 and compare it to the years 2022
and 2023 it will definitely be. According to WIPO (World Intellectual Property Organization) In
the year 2022, there was almost a rise of 31.6% of the patent grants. However, this is a huge
development in itself. India marked an 11-year growth period that surpassed that of any other
country within the top 10 filers
In 2023, we are witnessing a growth of around 25.2% of the total patent applications compared
to the last year 2022. In the last year total patent applications were around 77,068 in India. From
this, almost half of the applications were filed by non-residents. The count for the applications
filed by residents is 38551 whereas the count for the application by non-residents is 38517.
30490, patents were granted by the Indian Patent Office in the Last year.
However, if we look into the patent grants then it’s 41,010 patents till November 2023. This year
the patent fillings of the Indian residents have increased as compared to the last year which is
55718 applications and have overtaken the applications of non-residents which was 38,517.
Even Prime Minister Narendra Modi added to this by saying, “It’s a notable feet and it marks a
milestone in India’s journey towards an innovation-driven knowledge economy. India’s youth
will be great beneficiaries of such strides.”
Importance Of The Rise In The Patent Grants
The fiscal year 2023-2024 saw the issuance of 41,010 patents which in turn is a great and
noteworthy accomplishment for India which basically demonstrates the government’s effort in
promoting the environment that increases innovation and research. However, the government
even encourages researchers and innovators to confidently pursue their creative efforts by putting
an emphasis on intellectual property protection.
The increase in the patent grants is indicative of the emphasis on the policies which are meant to
streamline the patent process and which basically encourage indigenous inventions. Such
programs are basically focused on the development and promotion of growth in the number of
industries and establishing India as a centre for creative contributions overall the world.
Reasons Behind The Rise In Patent Applications
This rise in patent applications and grants suggests the increased focus on research and
development across various sectors. The growth in IPR (Intellectual Property rights is reflecting a
commitment to protect and promote innovation.
However, the rise in patent grants shows the promotion in the world of technology and science
and many more advancements in the industry. This signifies that the businesses, researchers and
inventors are thus actively engaging in creating new solutions, products and technologies.
This can also make a country’s progress in innovation, technology and competitiveness. It’s a
positive sign for the time which has arrived which can make a rise in the developments of the
country.
This growth in patent applications not only showcases the creativity and inventiveness of the
Indian population but also positions the country as a hub for technological advancements. It may
have positive implications for economic development, attracting investments, and fostering
collaborations on a global scale. Overall, these trends affirm India’s expanding role in the world
of intellectual property and innovation.
Patent filings often involve the disclosure of technical details. This knowledge sharing can
facilitate technology transfer, allowing other researchers and industries to build upon existing
innovations, fostering a collaborative environment
However, the patent can address the following global challenges and act as solutions to these
challenges for healthcare, technology or IT companies, and environmental sustainability by
sympathising with some innovations and mainly reassuring financial growth.
In turn, whenever there is an increase in the patent grants which indicates a strong patent system,
it can attract foreign investments and many foreign collaborations which in turn will make a
positive and greater impact on the economy.
India’s achievement basically states that every innovator and researcher emphasized a favourable
ecosystem for the innovators which in turn can aspire for the developments in the field of the IP
as well as Globally. However, it can also incentivise the innovators to contribute to the nation’s
growth as well as make more innovations.
