India records 572% growth in grant of Patents in last 7 years

Source: PIB

What is the News?

The Minister of Commerce and Industry has conferred the National Intellectual Property Awards 2020.

About National Intellectual Property Awards:

1. Given by: Office of Controller General of Patents, Designs and Trademarks(CGPDTM), Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
2. Aim: To recognize and reward the top achievers, comprising individuals, institutions, organisations that have contributed towards strengthening the IP ecosystem in the country and encouraging creativity and innovation.

Click Here to Read about Intellectual Property Rights(IPR) and Patents

India’s Achievements in Patents:

1. Firstly, India recorded a growth of 572% in grant of Patents in the last 7 years. Around 28,391 patents were granted in 2020-21 as compared to 4,227 grants during 2013-14.
2. Secondly, there has been a reduction in the Time of patent examination from 72 months in 2016 to 12-24 months in 2020
3. Thirdly, around 14.2 lakh trademarks were registered in the last 4 years (2016-2020) in comparison to 11 lakh during 75 years (1940-2015).
4. Fourthly, India’s ranking in Global Innovation Index has improved to 48th in 2020 from 81st in 2015-16.
   • India is now working in a mission mode to achieve the ambitious target of being in the top 25 nations of the Global Innovation Index.

Indian Government Initiatives to Promote Patents Filing:

1. There will be an 80% fee reduction in the filing of IPRs for all Recognized Educational Institutions (Govt/Aided/Pvt). This will be applied irrespective of whether such an institute is in India or outside India.
2. Moreover, the Office of CGPDTM (IP office) will impart training & awareness to 10 Lakh students as part of Azadi ka Amrit Mahotsav (15th Aug 2021 to 15 Aug 2022).