Patent filings by candidates in India grew by 31.6 per cent in 2022, mentioned World Mental Property Organisation (WIPO) in its annual World Mental Property Indicators (WIPI) report.
With this, India has prolonged an 11-year run of unmatched by every other nation among the many high 10 filers.
The report additional mentioned for the primary time, there have been extra patents filed by Indian residents as in opposition to overseas filers, indicating on the nation’s quick rising innovation ecosystem.
Apparently, resident patent filings in India, that are filed with the Indian Patent Workplace, elevated by 47 per cent to 38,551 in 2022, and have been half of the overall filings of 77,068 filed with the Indian Patent Workplace.
The WIPI report additional mentioned in 2022, world patenting exercise surged to a brand new report excessive, getting fillip by Indian and Chinese language innovators in addition to powered by elevated ranges of innovation, entrepreneurship and digitalisation in these international locations.
As per the report, innovators from all over the world submitted 3.5 million patent functions in 2022, marking a 3rd consecutive 12 months of progress. Total, China, the US, Japan, Republic of Korea and Germany have been the international locations, with the very best numbers of patent filings in 2022.
Bulk of IP submitting exercise happens in Asia, from all origins, the report mentioned.
Asia accounted for 67.9 per cent, 67.8 per cent and 70.3 per cent of worldwide patent, logos and industrial designs submitting exercise in 2022. The biggest rise in filings was reported from India.
Switzerland (6.1 per cent), China (3.1 per cent), Austria (2.5 per cent) and the UK (2.5 per cent) additionally reported sturdy progress in filings.
With inputs from companies