The Ministry of Commerce and Business mentioned on Saturday (March 16) that the Patent Workplace has granted an unprecedented one lakh patents inside a single 12 months. As per an official launch, within the fiscal 12 months 2023-24 alone, the Patent Workplace obtained an all-time excessive of 90,300 patent purposes.
The Patent Workplace granted over one lakh patents within the final 1 12 months (15-Mar-2023 to 14-Mar-2024). Each working day, 250 patents have been granted, the ministry mentioned. Alongside patent grants, there was a notable surge in GI registrations, demonstrating a threefold enhance in comparison with the earlier 12 months. At the moment, India boasts 573 registered GIs, with 98 new registrations within the fiscal 12 months 2023-24, based on the discharge.
Moreover, copyright registrations have reached a record-breaking 36,378, underscoring the huge potential inside the inventive sector. Within the realm of design, the fiscal 12 months 2023-24 witnessed the very best variety of registrations so far, totalling 27,819, alongside the ultimate disposal of 30,450 purposes.
Noteworthy initiatives corresponding to Toycathon, collectively organized by J&Ok SCERT and the Indian IP Workplace, have facilitated the registration of 115 novel designs by J&Ok faculty college students, based on the discharge. The Commerce Marks Registry has additionally redoubled its efforts to expedite trademark safety, committing to issuing examination experiences inside 30 days of receiving trademark purposes.
In parallel, the Nationwide Mental Property Academy (NIPAM) has performed a pivotal position in elevating IP consciousness, providing coaching to 24 lakh youths, significantly college students and lecturers, throughout over 7,000 establishments within the final two years. The announcement coincided with the official notification of the Patent Guidelines, 2024, which introduces a number of provisions geared toward simplifying the patent prosecution and upkeep processes.
These guidelines are poised to streamline the acquisition and administration of patents, thereby nurturing an setting conducive to innovation and financial progress. Notable options of the revamped guidelines embrace provisions for acknowledging inventors’ contributions by means of a brand new ‘Certificates of Inventorship’ and decreasing the time restrict for submitting examination requests to accommodate the quick tempo of technological developments, learn the press launch.
Highlighting the importance of those developments, authorities officers emphasised their dedication to enhancing the IP ecosystem and administration within the nation. The Ministry of Commerce and Business is devoted to creating an setting that fosters innovation and financial growth by means of sturdy IP safety mechanisms. The surge in patent grants displays India’s emergence as a hub for technological innovation, with one know-how searching for IP safety each six minutes.
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