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Context:
The World Intellectual Property Organization (WIPO) recently released its World Intellectual Property Indicators (WIPI) Report 2024.
Key Highlights of the WIPI Report 2024:
Global Growth in IP Filings: In 2023, 3.55 million patent applications were filed worldwide, representing a 2.7% increase as compared to 2022.
India’s Performance:
Resident Filings Lead: For the first time in history, more than half (55.2%) of India’s patent applications in 2023 were filed by residents of India which marks a significant milestone.
Patent Grants: In India, there is a surge (increase) in the number of patents granted by 149.4% in 2023 compared to 2022. These patent grants are helpful to the country’s evolving IPR system.
Sectoral Contributions: The largest proportion of trademark filings in India came from sectors such as Health (21.9%), Agriculture (15.3%), and Clothing (12.8%).
Patent-to-GDP Ratio: India's patent-to-GDP ratio (a measure of the economic impact of patent activity) grew significantly, from 144 in 2013 to 381 in 2023.
About India’s progress in the Global Innovation Index (GII) 2024:
Key Concerns in India's IPR Regime:
Government Initiatives:
Conclusion:
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