Patent Filings Are at Their Highest Level in Two Decades, Totalling Over 90,000

India is excelling on the invention front, with an average of 247 patents registered daily in 2023, the highest in the recent two decades. Patent filings increased by 17% to 90,309 in 2023, according to a report by SBI Research and the Indian Patent Office, which was shared exclusively with TOI.

India significantly cut the average patent pendency from 15 to 53 months in 2023.

In recent years, India has overhauled its patenting processes, making intellectual property rights more accessible to its citizens, whose ambitions and entrepreneurial spirit are rising. Over the last ten months, the Indian Patent Office (IPO) has granted a record 75,000 new patents. This is consistent with a long-standing trend of annual increases in patent grants.

The most significant reduction was obtained in chemistry and polymers, where patent approvals typically take 30 months. Experts told TOI that a higher number of patents awarded and a lower pendency indicates an efficient environment for recognising and protecting new ideas.

Over the last few years, delays in patent review and subsequent approvals have posed numerous challenges for entrepreneurs. The share of resident Indians in Indian Patent Office (IPO) filings among single inventors increased from 22.9% before 2014 to 35.5% after 2014, according to a two-decade analysis.

"Research breakthroughs in rapidly increasing industries are driven mainly by intellectual property, particularly in computer, communications, and biomedical fields, which are gaining traction due to Digital India. Mechanical engineering has been the main field for IP creation that leads to innovation, accounting for 20% of the total during the last two decades, followed by chemical science at around 16%. While considering patent submissions across all sectors, Unnat Pandit, controller general of patents, designs, and trademarks, stated that Indians are taking the lead in subjects like computers, biomedicals, and traditional realms of chemistry and mechanical engineering.

According to the report, educational and scientific institutions increased their innovation share to 31% between 2014 and 23. Companies held a 50% share from 2004 to 2013, followed by individuals at 35% and educational and scientific institutes at 15%.

Piyush Goyal, Union Minister of Commerce and Industry, claims that the patent boom results from the government reducing and streamlining over 40,000 compliances across the country to reduce the burden on entrepreneurs and innovators and encourage ease of doing business among them. He described the Jan Vishwas law as the first step towards leveraging India's inventive capabilities by decriminalising and rationalising some acts. According to Goyal, the consequence has been improved trust-based governance and the ease of business in India.

The government expects a prolonged patent boom in India and has set goals for itself. Last September, Sanjeev Sanyal, a Prime Minister's Economic Advisory Council member, stated that India will soon be able to grant 100,000 patents each year.

India's patent rush represents a remarkable turnaround driven by government initiatives and a growing entrepreneurial spirit. While obstacles persist, the goal of expanding the patent office's workforce and continuous awareness initiatives look promising for the future. Remember, India still has a long way to go before it can catch up with China and the United States regarding patents handled per year.