India sees 92,000 patent filings in FY24, IP guidelines set for overhaul

India recorded approximately 92,000 patent applications in the last financial year, Unnat Pandit, Controller General of Patents, Designs, and Trademarks (CGPDTM) told news agency PTI on Tuesday. Speaking at an Assocham event in New Delhi, Pandit attributed the numbers to a rising interest in intellectual property (IP) protection in the country, with a new technology seeking protection every six minutes.

The announcement comes amid efforts to overhaul India’s IP guidelines, which are being updated. “We are revamping the IP guidelines for the protection of intellectual property in various sectors. Stakeholders and industry associations are contributing to this process,” Pandit said.

Pandit noted that the increase in granted patents reflects improved efficiency at the Indian patent office.

“Despite challenges, patent filings and processing are steadily improving. Many of the innovations being registered are now meeting global standards,” he said.

India climbs global IP rankings

Last month, the commerce and industry ministry stated that India had ranked fourth in terms of trademark filing in the world. India ranked in the global top-10 for all three major intellectual property rights – patents, trademarks, and industrial designs.

“Nearly 90 per cent of these filings were by residents, with key sectors, including health, agri, and clothing leading the way,” the ministry said. Adding that with more than 3.2 million trademarks, India’s trademark office holds the second-largest number of active registrations worldwide.

India’s IP framework

India’s IP is governed by several laws, including the Patents Act, 1970, Copyright Act, 1957, Trade Marks Act, 1999, and Designs Act, 2000. However, these acts have not been updated in decades, prompting the current review.