India joins world’s top 6 for patent filings, surpassing significant milestone

India’s patent filings double in five years, country now ranks 6th globally India has secured a spot among the world’s top six countries for patent filings, with a remarkable doubling of its intellectual property (IP) filings between 2018 and 2023, according to the latest report from the World Intellectual Property Organization (WIPO). The country’s progress […] The post India joins world’s top 6 for patent filings, surpassing significant milestone appeared first on PGurus.

Nov 12, 2024 - 14:31
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India joins world’s top 6 for patent filings, surpassing significant milestone
India’s rise in global patent rankings is a reflection of its growing innovation capacity and its increasing role as a hub for technological and industrial advancements

India’s patent filings double in five years, country now ranks 6th globally

India has secured a spot among the world’s top six countries for patent filings, with a remarkable doubling of its intellectual property (IP) filings between 2018 and 2023, according to the latest report from the World Intellectual Property Organization (WIPO). The country’s progress marks a significant leap in its innovation landscape, reflecting a growing focus on protecting and fostering intellectual property.

For the first time, India has been included in the top 10 nations globally for three major categories of intellectual property rights: patents, industrial design applications, and trademark applications. The nation’s patent filings have now shown a fifth consecutive year of double-digit growth, underscoring its increasing role in the global innovation ecosystem.

According to the WIPO report, India filed 64,480 patents in 2023, registering a 15.7% increase over the previous year. This surge in patent activity contributed to India’s rise to the sixth position worldwide in patent filings, behind China, the United States, Japan, South Korea, and Germany.

Globally, more than 3.5 million patents were filed in 2023, marking the fourth consecutive year of positive growth in international patent filings. China led the world with 1.64 million patent applications, followed by the United States (518,364), Japan (414,413), South Korea (287,954), Germany (133,053), and India (64,480).

Asia continues to dominate the global IP landscape, with the region accounting for 68.7% of global patent filings, 66.7% of trademark applications, and 69% of industrial design filings in 2023, according to WIPO’s data.

Intellectual property rights (IPR) protect creations of the human mind that are not naturally occurring. These include inventions, literary and artistic works, designs, symbols, names, and images used in commerce. IPR is protected by law to prevent unauthorized use and ensure that creators benefit from their innovations.

WIPO, a specialized agency of the United Nations established in 1967 and headquartered in Geneva, Switzerland, is responsible for promoting the protection of intellectual property worldwide. Its annual report highlights trends in global IP filings and underscores the importance of robust intellectual property systems in supporting innovation and economic growth.

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The post India joins world’s top 6 for patent filings, surpassing significant milestone appeared first on PGurus.

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