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India Grants Over 1 Lakh Patents In 2023-24 admin May 2, 2024

India Grants Over 1 Lakh Patents In 2023-24

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India Grants Over 1 Lakh Patents in 2023-24

India granted a record 1.03 lakh (103,000) patents in the financial year 2023-24.
IP Office has streamlined its services. 40% of patent applications were disposed of within 30 months of requesting examination.
The need for India to strengthen its IP position as patent filings continue to rise.
In 2023-24, India received an all-time high 90,300 patent applications, indicating robust research activity and confidence in commercializing innovations in the Indian economy.
Almost one technology seeks IP protection in India every 6 minutes.
Over 1 lakh patents were granted between March 15, 2023 and March 14, 2024, with 250 patents being issued every working day.
The government has also notified the Patent Rules 2024, introducing provisions to simplify the patent obtainment and management process. A unique 'Certificate of Inventorship' has been introduced to acknowledge inventors' contributions to patented inventions.


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