75,000 patents granted by patent office in 10 months: Mr. Piyush Goyal
- IBEF
- January 29, 2024
The Union Minister of Commerce and Industry, Mr. Piyush Goyal, announced that the Indian Patent Office (IPO) has achieved a significant milestone by granting a record 75,000 patents over the past ten months, reflecting India's prowess in innovation and rapid growth. Addressing a meeting of innovators and entrepreneurs, the Union Minister of Commerce and Industry highlighted efforts to streamline regulations by simplifying approximately 40,000 compliances nationwide, aimed at easing the burden on businesses and fostering a conducive environment for entrepreneurship.
Mr. Goyal emphasized the importance of trust-based governance and decriminalizing business-related offenses to promote ease of doing business. Additionally, he commended the increasing participation of women in the start-up ecosystem, noting the rise in female-led unicorns and the growing number of women patent holders. He praised initiatives like the Pradhan Mantri Jan Dhan Yojana (PMJDY) for empowering entrepreneurs and contributing to India's economic growth, positioning the country as the fifth-largest economy globally. Mr. Goyal expressed confidence in the youth, especially women, stating their collective efforts would lead India towards a corruption-free economy and a projected GDP of US$ 35 trillion by 2047.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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