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India in top 10 globally for patents, trademarks and industrial designs
Mint Mumbai
|November 13, 2024
India now ranks among the top 10 countries globally in the number of patents, trademarks and industrial design applications, according to the World Intellectual Property Organization's (WIPO) 2024 report on IP trends.
The World Intellectual Property Indicators report underscores India's rapid progress in the intellectual property (IP) landscape.
India recorded the fastest growth among the top 20 origins in patent applications, with a 15.7% increase in 2023, marking its fifth consecutive year of double-digit growth in this area, the commerce ministry said in a statement on Tuesday.
With 64,480 patent applications, India now ranks sixth worldwide, crossing a notable threshold as Indian filings accounted for over half the total (55.2%) for the first time, it said.
This upward trend in patent applications is accompanied by an impressive 149.4% surge in granted patents compared with the previous year, indicating rapid development within India's IP infrastructure.
This story is from the November 13, 2024 edition of Mint Mumbai.
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