New Delhi, April 13 (KNN) India achieved yet another milestone in the context of the Intellectual Property (IP) innovation ecosystem. This is a significant milestone in the context of the IP innovation ecosystem, according to a statement from the Ministry of Commerce and Industry issued today.

For the first time in the last 11 years, the number of domestic patent filing has surpassed the number of international patent filing at Indian patent office in the Quarter January-March 2022. Of the total 19796 patent applications filed, 10706 were filed by Indian applicants against 9090 by non-Indian applicants.

Union Minister of Commerce and Industry Piyush Goyal appreciated the consistent efforts made by the Department for Promotion of Industry and Internal Trade (DPIIT) on strengthening the IPR regime in India by fostering innovation, and reducing compliance burden.

The coordinated effort by DPIIT and IP office has led to increased IP awareness among all strata of society. These efforts have on the one hand led to an increase in the number of IPR filings and on the other has reduced the pendency of patent application at IP offices, he said.

Goyal also mentioned that this will take India a step closer to India’s ambitious target of being in the top 25 nations of Global Innovation Index.

Some of the key initiatives taken by the government over the years that have bolstered India’s IP regime includes provisions on expedited examination for Startups and MSMEs along with other categories. (KNN Bureau)