India: 572 per cent growth in grant of Patents

India has recorded 572 per cent growth in grant of Patents in last seven years. Commerce and Industry Minister Piyush Goyal said that 28,391 patents granted in 2020-21 as compared to 4,227 grants during 2013-14. He said, the Centre will impart training to ten lakh students on Intellectual Property Rights matters in this Azadi Ka Amrit Mahotsav. The Minister said that Intellectual Property has the power and potential to change lives and create livelihoods for billions. Goyal said we have improved India’s ranking in Global Innovation Index to 48th in 2020, (+33 ranks from 81st in 2015-16).
The Commerce and Industry Minister conferred the National Intellectual Property Awards at a virtual event in New Delhi on Tuesday. Speaking on the occasion, the Minister said, today technology and ideas are the twin engines of growth, Intellectual Property Rights IPR is the fuel that powers them. Goyal stressed on the need to bring an Intellectual Property revolution for inclusive progress in the nation and strengthening Intellectual Property Rights laws. He said, it will boost job creation, quality, competitiveness and manufacturing. Goyal said the key achievements include-

-Granting of 28,391 patents  in 2020-21 as compared to 4,227 grants during 2013-14 (572% growth.

-Reduction in Time of patent examination from 72 months in Dec 2016 to 12-24 months in Dec 2020

-14.2 lakh trademark registrations in 4 years (2016-2020) in comparison to 11 lakh during 75 years (1940-2015)