Nasscom Releases Patenting Trends in India

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Context:

Nasscom recently unveiled the Patenting Trends in India report on World Intellectual Property Day.

Relevance:

GS III: Indian Economy

Dimensions of the Article:

Date: Celebrated annually on April 26.
Objective: Raise awareness about intellectual property (IP) rights and their role in fostering innovation and creativity for global betterment.
Balanced Approach: Advocates for a balanced approach to IP protection, considering the rights of creators, copyright holders, and the public interest.
Establishment: Instituted in 2000 by the World Intellectual Property Organization (WIPO).
Theme 2024: ‘IP and the SDGs: Building Our Common Future with Innovation and Creativity’.

1883: Signing of the Paris Convention for the Protection of Industrial Property, aimed at safeguarding inventions, trademarks, and industrial designs.
1970: Convention establishing WIPO came into force, making WIPO a specialized agency of the United Nations.
1974: WIPO became a self-funding agency of the UN, with 193 member states, promoting global intellectual property protection and advancement.

Trends:

In FY2023, India witnessed 83,000 patents filed, with an annual growth rate of 24.6%, the highest in two decades.
Patents granted also saw significant growth, doubling between FY2019 and FY2023.
Share of patents filed by Indian residents doubled over the last decade, exceeding 50% in FY2023.

Key Areas:

Healthcare: Dominated patent applications, particularly in medical imaging, diagnosis, report generation, and testing.
Other Areas: Significant filings in Automation/Software Development and Retail/e-commerce.

Artificial Intelligence (AI):

Maximum patents filed in image processing, Natural Language Processing, and Predictive modeling.
Emerging Areas: Gen AI, Medical Data Processing, and Cognitive computing witnessed notable filings.

-Source: The Hindu