India has filed more than two thousand international patent applications, thereby marking the highest growth among the top 15 nations.
India filed 2,013 international patent applications in 2018 with the World Intellectual Property Organization (WIPO), registering the highest growth of 27% among countries but falling way below China and the US in volume of patent filings.
With 21% patent applications, China is second to India and the two nations are the only middle-income countries to be ranked among the top 15 countries.
A closer look at Indian patents show that most of the patents filed by following organization, with their ranking as below –
ONe of the innovation by TVS Motor is — TVS -ATT — which enhances fuel efficiency by 20% when compared to the conventional technology that is currently in use today. The innovation by the company also offers an additional advantages like the lowest carbon dioxide emission in motorcycles and scooters, has a low floorboard and more space to keep luggage.
Another one by TVS Motors is called “the RTR engine (Racing Throttle Response)”which provides instant acceleration combined with aerodynamic, roto petal disc brakes that are completely from the track and digital speedometers,
The patents list is also counts most patents by Indian pharmaceutical companies such as Dr Reddys, Sun Pharma, Cipla and Lupin, among others. Several factors such as manufacturing excellence, cost competitiveness, trained human capital and robust infrastructure are known to have created Indian pharma’s success story. To accelerate growth, more innovations have to come through as well.
In the previous year, innovators and research organizations from India filed 1,583 patent applications with the WIPO.
If we speak about startups in India, then in 2017 patents filed by Indian startups shot up substantially as startups in India filed 909 patent applications last year, as compared to a mere 61 in 201, according to the data from the Department of Industrial Policy & Promotion (DIPP).
“India has joined the race and has strengthened its participation in the international patent system,” said Francis Gurry, WIPO’s director general. But India has a long way to catch up with China which is expected to overtake the US as the leading hub for global innovation.
Innovators from China filed 53,345 international patent applications last year compared with 48,905 in 2017. China is expected to surpass the US in the next two years as the world’s predominant hub for innovation.
Last year, US-based applicants filed 56,142 PCT applications, followed by those from China (53,345), Japan (49,702), Germany (19,883), and Korea (17,014).
Chinese telecommunications giant Huawei Technologies, targeted by the US over alleged security issues, is now the world’s largest filer of patents. “We are watching a clear geopolitical trend” in international patent filing activity with the gap between the US and China rapidly closing, said Gurry at a press conference on Monday in Geneva.
Recently, in number blockchain patents filed India ranked at 6 while China is on top in the number of blockchain patents filed surpassing those filed in the USA, reports Hard Fork, which pulled the data from WIPO websites.
Source – Financial Express
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