16 March 2024 – The Indian patent office has reached a significant milestone by granting over 1 lakh patents in the past year, showcasing the government’s efforts to bolster the intellectual property rights landscape. This surge in patents aligns with India’s commitment to fostering innovation and protecting the rights of inventors and creators.
Founded with the objective of promoting innovation and safeguarding intellectual property, the Indian patent office has played a crucial role in facilitating technological advancements across various sectors. The recent achievement of granting 1 lakh patents reflects the growing emphasis on innovation-driven growth in India.
Additionally, the notable increase in Geographical Indication (GI) registrations, tripling compared to the previous year, underscores the heightened awareness and recognition of India’s unique products and traditional knowledge. With 573 GIs registered to date and more registrations expected by the end of the fiscal year, India’s rich cultural heritage continues to receive official acknowledgment and protection.
The introduction of the Patent Rules, 2024, further streamlines the patent application and management processes, fostering a conducive environment for inventors and creators. Innovators can now benefit from simplified procedures, including a new ‘Certificate of Inventorship’ provision that acknowledges the contributions of inventors to patented inventions.
Conclusion:
The Indian patent office’s achievement of granting 1 lakh patents signifies a thriving innovation ecosystem and underscores India’s commitment to fostering a culture of creativity and entrepreneurship. The streamlined processes and supportive measures introduced through the new Patent Rules are poised to further accelerate India’s journey towards becoming a global hub for innovation and intellectual property rights protection.
