India grants over 100,000 patents in FY24 says official
- In Reports
- 07:09 PM, Apr 25, 2024
- Myind Staff
Controller General of Patents, Designs, and Trademarks Unnat Pandit stated that India granted 1.03 lakh patents in the financial year 2023-24. He reassured that the Intellectual Property Office would prioritise the timely clearance of applications, ensuring "no delay."
Addressing an Associated Chamber of Commerce and Industry of India (ASSOCHAM) event, he disclosed that 40 percent of the applications had been processed within 30 months of the examination request. Pandit affirmed the commitment to ensuring no delays in the IP office, emphasising the importance of granting and utilising intellectual property under Chapter 8 of the Act to generate economic value.
He stated on the sidelines of the event that all pending applications had been cleared. Henceforth, any applications for examination or hearing would be processed within the period of 30-36 months, ensuring no delays in the process.
Pandit stressed the need for India to bolster its Intellectual Property position, citing a continual increase in IP filings year over year. He highlighted that in the financial year 2023-24, there were 90,300 patent filings, indicating significant confidence in research and its potential commercialization in the Indian economy.
The Commerce and Industry Ministry previously reported that every 6 minutes, a technology seeks IP protection in India. Additionally, in 2023, the country received an all-time high of 90,300 patent applications. Furthermore, the Patent Office granted over one lakh patents in the last year, spanning from March 15, 2023, to March 14, 2024.
Every working day saw the granting of 250 patents. Additionally, it was stated that the Patent Rules of 2024 have been notified. These rules introduced several provisions aimed at simplifying the process of obtaining and managing patents, thereby creating a conducive environment for inventors and creators.
The revamped rules introduced a unique provision for the New 'Certificate of Inventorship' to acknowledge the contribution of inventors in the patented invention.
Additionally, the time limit to furnish foreign application filing details in a specified form has been reduced from six months from the date of filing of the application to three months from the date of issuance of the first examination report.
Image source: The Hindu
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