The number of patents granted by India jumped 50 per cent to 12,387 in 2017 as compared to 8,248 granted in the previous year, according to data released by the UN’s World Intellectual Property Organisation (WIPO).
India granted 86 per cent (10,675) of the total patents to foreigners as compared to 14 per cent (1,712) awarded to entities and individuals based in India.
“Filing abroad reflects the globalisation of intellectual property (IP) protection and a desire to commercialise technology in foreign markets. The costs of filing abroad can be substantial, so the patents for which applicants seek international protection are likely to confer higher values,” quoted the report released by WIPO in Geneva on Monday. Among other factors, technological specialisation, proximity and market size influence cross-border applications, the report highlighted.
Worldwide demand for intellectual property (IP) tools reached record heights in 2017, with China driving the growth in filings for patents, trademarks, industrial designs and other IP rights that are at the heart of the global economy.
The number of applications that were potentially pending globally fell from 5.6 million in 2009 to 5 million in 2016. India saw a 6.1 per cent increase in its potentially pending applications in 2016. However, 80 per cent of the total (242,800) were awaiting request for examination.
“Demand for IP 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,” said WIPO Director General Francis Gurry. “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.”
Meanwhile, worldwide plant varieties applications grew by 11.7 per cent to reach 18,490 applications in 2017, while data received from 82 national and regional authorities show the existence of around 59,500 protected geographical indications (GIs) in 2017.