Indian Economy News

Education institutes lead India's steady rise in patents.

  • IBEF
  • March 4, 2024

In India, patent filings have witnessed a remarkable surge, notably by educational institutes such as universities, whose share has surged from 11% in FY21-22 to 23% in FY23. According to the patent office's 2022-23 annual report, an extensive awareness mission has educated 1.9 million students and educators across 7,377 educational institutions about intellectual property, substantially increasing patent applications. In FY23 alone, educational institutes filed 19,430 patents, showcasing a significant rise from the previous fiscal year's 7,501 filings.

The surge in Indian patent filings has seen a 63% increase since the onset of the COVID-19 pandemic, with over 82,811 patents filed in FY23 compared to 50,659 in FY19. Although more Indians filed patents domestically than foreigners for the second consecutive year, most patents in force are held by foreigners. Computer science dominated the patent landscape, comprising a quarter of applications, followed by mechanical engineering at 18%, and chemical applications, including pharmaceuticals, at 14%. Despite India's increased share in global patent grants, it holds the fourth position among the world's largest economies, with China, the US, and Japan collectively representing over 70% of global patents. China's patent share notably surged from 17.8% to 43.8%, raising questions about the quality of its patents.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.