Deep-tech drives growing patenting patterns in India

2 months ago
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New Delhi: Intellectual Property (IP) rights, particularly patents, are gaining traction as innovation drives the economy, with a significant surge in patents filed in India led by the deep-tech sector, according to a recent study.

It said that Tamil Nadu filed the maximum number of patents during FY23. Industry body Nasscom on Friday released the seventh edition of its annual ‘Patenting Trends in India’ study, highlighting approaches to fostering an IP-led digital economy. The study sourced insights from annual reports of WIPO (World Intellectual Property Organization) and Intellectual Property India, among others. According to the report, 83,000 patents were filed in India in FY2023, marking the highest surge of 24.6 per cent in the last two decades. The share of patents filed by women in India grew to 11.6 per cent in FY2022 from 10.2 per cent a year ago. With 9.3 per cent of total patent filings during FY23, Tamil Nadu surpassed Maharashtra (contributing 6.8 per cent) to take the top rank. Subsidies by the government for IP registrations for startups and MSMEs (micro, small and medium enterprises), facilitation centres, strong research and development ecosystem, literacy and an increased number of PhD scholars were named as some key drivers behind Tamil Nadu’s top position. The number of patents granted also witnessed a significant growth rising over two times between FY2019 and FY2023, it said.

Nasscom anticipated the trend to increase significantly on account of over 1,00,000 patents granted between March 2023 and March 2024. Over the past decade, the proportion of patents filed by residents (primary filers based in India) has almost doubled, climbing from 33.6 per cent of total filings in fiscal year 2019 to more than 50 per cent in FY23. “This significant increase reflects a growing focus and heightened awareness of intellectual property rights in the country. Educational institutes have been a key driver to this growth,” Nasscom said. The study highlighted the gathering steam around innovation in technology in India with major Indian deep-tech startups filing 922 patents since 2008. “… India’s emphasis on innovation is burgeoning.

The filing of over 900 patents since 2008 by leading Indian deep-tech startups coupled with the submission of 32K Patent Cooperation Treaty (PCT) applications in India by other countries stood as a testament to this increasing focus,” it said.…Read more by Bizz Buzz

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