New Delhi, April 26 (SocialNews.XYZ) India witnessed a significant increase in patent filings in FY22 with a 13.6 per cent growth rate (year-on-year), the highest annual increase in the last decade, a report showed on Wednesday.
Further, the year witnessed a rise in the share of domestic filings to 44.4 per cent of total patents filed, compared to 41.6 per cent in FY2021, according to Nasscom which released the report on the occasion of World Intellectual Property Day.
Out of the 584,000 patents filed in India between FY2010 and FY2022, 266,000 were from the technology domain, and 160,000 of these technology patents were from emerging technologies like AI, IoT, big data, cybersecurity and Blockchain.
Of the total patents filed in the telecommunications sector, around 2.4 per cent were related to emerging areas such as 5G and 6G.
"India's adoption of emerging technologies has led to a surge in innovation, as evidenced by the increasing number of patent filings. This trend highlights India's position on the global innovation map and its leadership in emerging technologies such as AI," said Debjani Ghosh, President, Nasscom.
To further boost domestic patent filings, partnerships among various stakeholders will be crucial in creating and raising awareness about intellectual property, she added.
Patents related to AI and IoT for various applications such as building automation, smart wearables, neural networks and connected healthcare accounted for more than 50 per cent of the patents filed across emerging technologies.
In addition, Pattern Analysis and Image Analysis emerged as another important area, accounting for 28 per cent of all patents filed.
The number of patents related to Blockchain witnessed a CAGR of over 25 per cent, over the same period.
"To accelerate the development of India's intellectual property creation ecosystem, it is imperative to establish clear timelines for both applicants and examiners for each process/office action," said the report.
Additionally, a forum that brings together stakeholders from academia, industry, start-ups, and the legal fraternity can play a pivotal role in fostering a culture of co-innovation, it added.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz