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Rising pace of innovation in the country, record increase in the number of patents in FY-22

New Delhi . The pace of innovation is increasing rapidly in the country. You can understand this trend from the increasing number of patents in the country. The number of patents in the country has increased to 66,440 in the financial year 2021-22. This figure of patents was 42,763 in the year 2014-15. The Ministry of Commerce and Industry gave this information on Tuesday. The ministry said that this figure is increasing rapidly due to the government’s strengthening of intellectual property rights (IPR) in the country.

The time for patent examination was reduced from 72 months to 5 to 23 months in 2016. The ministry said, “For the first time in the last 11 years, the number of domestic patent filings has exceeded the number of international patent filings in the January-March 2022 quarter.

increased awareness
Of the total 19,796 patent applications filed, 10,706 were filed by Indian applicants and 9,090 by non-Indian applicants. The ministry said that due to the efforts of Industry and Internal Trade (DPIIT) and IP Office, awareness has increased among all sections of the society.
These efforts have led to an increase in the number of IPR filings on the one hand and, on the other hand, reduction in pendency of patent applications.

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Piyush Goyal praised
Commerce and Industry, Consumer Affairs, Public Distribution and Textiles Minister Piyush Goyal praised the increasing number of patents in the country. Appreciated the continuous efforts by DPIIT to strengthen the IPR regime in India, promote innovation and reduce compliance burden.

Who is Patent?
A patent is a right granted to an individual or entity for an entirely new service, technology, process, product or design. So that no one can make a copy of them. In other words, a patent is such a legal right, after which if a person or organization discovers or manufactures a product, then it acquires a monopoly to make that product. That’s why people patent any new invention.

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