India Achieves Top 10 Global Ranking in IP Growth

Why in the news?

India’s IP filings saw record growth in 2023, ranking among the top 10 for patents, trademarks, and designs, driven by innovation across various sectors and increased resident filings.

India Achieves Top 10 Global Ranking in IP Growth

India’s Rising Global IP Rankings:

  • India has climbed into the top 10 globally for patents, trademarks, and industrial designs, reflecting strong growth in intellectual property (IP)
  • In 2023, India led globally with a7% growth in patent applications, marking its fifth consecutive year of double-digit increases.
  • With 64,480 patent applications, India ranks sixth globally, and, for the first time, resident filings make up 2% of these applications.

Highlights of the Report:

  • Patent Growth: India led with a7% rise in patent applications in 2023, marking five years of double-digit growth.
  • Global Rank: Sixth worldwide with 64,480 patent applications;2% were resident filings.
  • Patent Grants: Increased by 4% from 2022.
  • Industrial Design: Applications grew by 4%, driven by textiles, tools, and health sectors.
  • Long-Term Growth: IP filings doubled since 2018; patent-to-GDP ratio rose from 144 to 381.
  • Trademark Rank: Fourth globally in trademark filings, with 90% from residents.
  • Trademark Office: Holds2 million active registrations, second-largest worldwide.
  • Global IP Trends:55 million patent applications filed globally in 2023, driven by Asia.

About Intellectual Property Rights (IPR):

  • Intellectual Property Rights (IPR) Objectives:
    • Enable creators to gain financially or gain recognition.
    • Encourage creativity and innovation while balancing public interest.
    • Protect traditional knowledge.
  • Types of IPR:
    • Copyright: Rights for authors over creative works, protected for at least 50 years after the creator’s death.
    • Industrial Property: Includes patents, trademarks, geographical indications, designs, and trade secrets.
  • Key IPR Forms:
    • Patent: Exclusive rights for new inventions, requiring disclosure of details.
    • Trademark: Symbols that distinguish products/services.
    • Industrial Design: Aesthetic features of objects.
    • Geographical Indication: Labels for products from specific origins.
    • Trade Secret: Rights on confidential business information.

Sources Referred:

PIB, The Hindu, Indian Express, Hindustan Times