New Delhi, November 24 (IANS). The startup ecosystem in India has grown rapidly in the last few years. Due to this, the country’s influence in global innovation and intellectual property is increasing rapidly. In the World Intellectual Property Organization (WIPO) and World Intellectual Property Indicators (WIPI) 2024 report, the country has performed well in key intellectual property categories – patents, trademarks and industrial designs.
India has made strong progress in global patent applications and has been ranked 6th in the 2024 World Intellectual Property Indicators Report, with 64,480 patents filed in 2023. It has seen an increase of 15.7 percent on an annual basis. China, America, Japan and South Korea are ahead of India in patent applications.
The World Intellectual Property Organization report said that India’s influence has also increased in trademark and industrial design applications. India’s ranking in trademark filings has been 4th in 2023.
At the same time, industrial design applications have seen a huge growth of 36.4 percent in 2023, indicating a growing emphasis on creativity and design innovation across various industries. This boom reflects the country’s shift towards not only manufacturing but also product development.
Continuous efforts are also being made by the government to increase intellectual property in India. National Intellectual Property Rights (NIPR) was launched by the Central Government in 2016. The objective of this policy was to increase public awareness about intellectual property, strengthen the ecosystem and promote innovation by providing better access to intellectual property services. The main feature of this policy was modernization and digitalization of offices related to intellectual property.
During this period, India’s ranking in the Global Innovation Index (GII) has also increased rapidly. India’s ranking in the Global Innovation Index 2024 is 39th, which was 81st in 2015. The reason for this is the rapid growth of the startup ecosystem in the country.
India’s good performance in the WIPO report and GII rankings in 2024 shows that innovation is growing rapidly in the country, which will also help in India’s economic growth in the future.
–IANS
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