Chennai: With intellectual property being the backbone of a knowledge-based economy, the Economic Survey 2021-22 notes that India is on the right path with filing and granting of patents registering a steady rise and more Indians innovating and applying for patents.
The number of patents filed in India increased by almost 50% from 2010-11 to 2020-21, the Economic Survey showed. Number of patents filed stood at 39,400 in 2010-11, and 58,502 in 2020-21. The trend is also reflected in patents granted, which grew almost 4x from 7,509 in 2010-11 to 28,391in 2020-21.
Further, the number of applications are increasingly coming from Indian residents rather than MNCs, the survey noted, as share of Indian residents in total patent applications has increased from 20% in 2010-11 to around 40% in 2020-21.
“Consequently, India’s ranking in the Global Innovation Index has climbed 35 ranks, from 81st in 2015-16 to 46th in 2021,” the survey said. “This is a remarkable progress, but the number of patents granted in India is still a fraction compared to patents granted in China, USA, Japan, and Korea,” it added.
Source: ToI
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