India's IP Boom: Fastest Growth in Global Patent Filings

India posts a record 15.7% rise in patent applications for 2023, maintaining its double-digit growth streak among top 20 countries. The nation ranks sixth for global patents, with resident-led submissions surpassing half of entries, highlighting a dynamic shift in India's intellectual property ecosystem.

India has emerged as a front-runner in global intellectual property (IP) advancements, registering the fastest growth in patent applications among the top 20 nations. According to the World Intellectual Property Indicators (WIPI) 2024 report, India saw a 15.7% jump in patent filings in 2023. This marks the fifth consecutive year of double-digit growth, underscoring India's burgeoning IP sector.

The report by the World Intellectual Property Organization (WIPO) highlights significant trends in worldwide IP filings, with India achieving a notable sixth-place ranking in patent applications globally. Furthermore, the Indian patent office granted 149.4% more patents this year compared to 2022, signifying the rapid evolution of its IP framework.

In addition to patents, India ranks within the global top 10 for trademarks and industrial designs. With industrial design applications rising by 36.4%, the nation's focus on innovation and creativity is evident. Sectors like Textiles and Accessories, Tools and Machines, and Health and Cosmetics lead these filings, indicating a strategic emphasis on diverse industries.

Between 2018 and 2023, patent and industrial design applications more than doubled, while trademark filings increased by 60%. India now ranks fourth globally for trademark filings, with a significant 6.1% increase in 2023. Notably, 90% of these filings were domestic, with major contributions from health, agriculture, and clothing sectors.

Amassing over 3.2 million trademarks, India's trademark office ranks second in active registrations worldwide, reinforcing its dominance in the global IP landscape.

(With inputs from agencies.)