New Delhi, Jul 1 (KNN) In a significant development for India's intellectual property landscape, the country has witnessed a substantial rise in patent issuance over the past decade.

Union Minister of Commerce and Industry Piyush Goyal revealed that India granted approximately 100,000 patents in 2024, a stark contrast to the mere 6,000 patents issued annually a decade ago.

Minister Goyal shared this information during an industry outreach program in Hyderabad, Telangana.

He emphasised the current government's commitment to fostering a corruption-free India, stating that efforts are underway to digitise government services, reducing the need for citizens to visit government offices in person.

"PM Modi has often mentioned that his government is committed to a corruption-free India," Goyal remarked, adding that the move towards online services is ‘an effort in that direction to eliminate any potential for anybody requiring to go to government offices.’

The minister also announced an expansion of the mandate for 'Invest India', the country's National Investment Promotion and Facilitation Agency.

Previously focused on supporting foreign investors, the agency will now extend its services to domestic industry and trade. Goyal invited stakeholders to engage with Invest India on matters related to trade, exports, imports, and domestic investments.

In a move towards further streamlining trade processes, Goyal disclosed plans to transition all operations of the Directorate General of Foreign Trade (DGFT) to an online platform. He stated that DGFT offices nationwide are being repurposed as trade and investment promotion centers.

These developments signal a concerted effort by the Indian government to bolster intellectual property rights, facilitate trade, and promote both foreign and domestic investment in the country.

(KNN Bureau)