Discover how India is becoming a global hub for innovation with 92,000 patent applications filed in FY’24. Find out about the changing IP environment and upcoming developments in IP protection.
India’s Innovation Surge: 92,000 Patent Applications Filed in FY’24 🇮🇳
India is quickly becoming one of the world’s leading nations in scientific and technological innovation. In the last financial year (FY’24), approximately 92,000 patent applications were filed, showcasing the nation’s growing commitment to intellectual property (IP) protection. This impressive figure translates to one new technology seeking IP protection every six minutes!
At a recent Assocham event, Unnat Pandit, Controller General of Patents, Designs, and Trademarks (CGPDTM), emphasized the significance of this milestone. He highlighted that India’s IP guidelines are being revamped to provide stronger protection across various sectors. Industry associations and stakeholders are being actively involved in shaping these new norms.
“We are creating a vibrant and efficient IP ecosystem in India. The rapid growth in patent filings reflects both the rising quality of innovations and the enhanced efficiency of India’s patent office in processing applications and granting rights.”
This surge in patent filings underscores India’s potential to meet global standards and strengthen its position as an innovation-driven economy.
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