The UN’s World Intellectual Property Organization (WIPO) reported that the number of patents which are granted by India has reached up 50 percent in the year 2017, simultaneously keeping steep increase trend.
According to the WIPO’s reports released on Monday, increment of the patent from 8,248 in 2016 to 12,387 in 2017 has been seen. 2017 year’s number of patent granted by India was approximately double than the 6,022 patents granted in 2015.
According to WIPO’s statistics, among the patents granted last year, 1,712 was reserved to the individuals and entities based in India and other 10,675 accounted to foreigners.
WIPO states the increment in the steep was made through the patents which were granted to foreigners, which holds around 85 percent of the total increase steep.
WIPO reported, in 2016, domestic entities and individuals held 1,115 and 7,133 accounted to foreigners, and in 2015, domestics held 822 and 5,200 belongs to foreigners.
During releasing reports in Geneva, WIPO director-general Francis Gurry said, “Demand for IP (intellectual property) protection is rising faster than the rate of global economic growth, illustrating that IP-backed innovation is an increasingly critical component of competition and commercial activity.”
The estimated reports stated that 1.4 million patents were globally granted in the year 2017.
China being the world’s number one patent country, granted 420,144 and was then followed by the United States upto 318,829 patents granted.
Gurry said, “In just a few decades, China has constructed an IP system, encouraged homegrown innovation, joined the ranks of the world’s IP leaders — and is now driving worldwide growth in IP filings.”
China had 1.38 million patent application, whereas the US had 606,956 patent applications, which means China owns double the US patents.
Reports states that among 46,582 patents granted by India last year, 9,222 has come from the country US.
US generated 606,956 patents last year, among which 10,309 came from the country India.
Though, India has ranked 10th in the world for the patents, none of Indian company or university has come under top 50 patent applicants.
Japan’s Canon being the 1st ranked, has granted 24,036 patent applicants, followed by South Korea’s Samsung with 21,836 applicants and China’s State Grid Corporation’s patent with 21,653, during the years 2013-2015.
According to WIPO reports released, India has 1.6 million active trademarks, from which 339,692 has been registered last year (2017), 52,553 for foreigners and 287,139 from domestics.
India, increment in patent applicants, has shown their sign of growing entrepreneurship, Gurry said.