Reflecting global trends, 83,000 patents were filed in India in FY2023, representing an annual growth rate of 24.6% and the highest in two decades, according to the Patenting Trends report released by Nasscom on Friday.
The number of granted patents also saw a significant raise, more than doubling between 2019 and 2023. This trend is expected to raise significantly, with over 100,000 patents granted between March 15, 2023 and March 14, 2024, he said.
The study also found that over the past decade, the percentage of patents filed by residents (primary filers based in India) has doubled, from 33.6% of total filings in fiscal year 2019 to over 50% in fiscal year 2023. This significant raise reflects growing interest and increased awareness of intellectual property rights in the country. Educational institutes are a key driver of this growth,” the report said.
Artificial intelligence, Internet of Things and neurotechnology are among the top technology patents filed by DeepTech startups in India, Nasscom reports.
Among the top application areas, healthcare-related patents found the most applications, mainly related to medical imaging, diagnosis, reporting and testing, followed by automation/software development and retail/e-commerce. Artificial intelligence has recorded the most patents in the areas of image processing, natural language processing and predictive modeling, while generation artificial intelligence, medical data processing and cognitive computing are key modern areas.
Debjani Ghosh, CEO, Nasscom, said: “The raise in patent filings over the last few years is a clear indication of India’s growing capacity to innovate, especially in areas such as artificial intelligence. To further improve national patenting activities, collaboration between key stakeholders is necessary to support and raise awareness of intellectual property rights.
Over the last two years, the patent application process in India has improved significantly. However, the country’s share of patents filed worldwide was just over 2%, suggesting the need for more targeted initiatives in this direction, she added.
