India Advances To Sixth Spot In Global Intellectual Property Filings: WIPO

ENA Economy 2024-11-13 14:43:19 New Delhi, Nov 13 (KNN) In a significant stride in intellectual property (IP) rights, India has secured a place among the worlds top six countries for IP filings, according to a recent report by the World Intellectual Property Organisation (WIPO). Over the past five years, India has seen a doubling in patent and industrial design filings, positioning the country prominently on the global IP map. The milestone comes amid a surge in Indias patent applications, which reached 64,480 in 2023—a 15.7 per cent increase from 2022. This makes India one of only a handful of countries to be counted in the global top 10 across three critical IP domains: patents, industrial designs, and trademarks. The global rise in IP filings has been largely driven by Asia, with the region dominating the statistics. China led with an impressive 1.64 million patents filed in 2023, followed by the United States at 518,364, Japan with 414,413, South Korea at 287,954, Germany with 133,053, and India rounding out the top six. Asian countries collectively contributed to 68.7 per cent of the worlds patent filings, 56.7 per cent of trademark applications, and 69 per cent of industrial design filings. This growth reflects Indias focus on strengthening intellectual property protections and fostering innovation across sectors. By encouraging patents and protecting designs, trademarks, and creative works, India is ensuring that its inventors, artists, and entrepreneurs can compete globally while safeguarding their creations and discoveries. The WIPO, headquartered in Geneva, Switzerland, was established as a United Nations agency in 1967 to promote the global protection of intellectual property. The organisation's latest report underscores an ongoing global commitment to innovation, with over 3.5 million patents filed worldwide in 2023 alone, marking the fourth consecutive year of increased filings. As India continues to bolster its IP framework, the countrys innovative talent and economic potential will be increasingly recognized on the global stage, contributing to a more competitive and knowledge-based economy. (KNN Bureau) 39895 https://knnindia.co.in/news/newsdetails/economy/india-advances-to-sixth-spot-in-global-intellectual-property-filings-wipo 2024-11-13 14:43:19 knnindia.co.in India Advances To Sixth Spot In Global Intellectual Property Filings: WIPO