India grants record 41k patents in FY24
Youth will be great beneficiaries of such strides, says Piyush Goyal
image for illustrative purpose
New Delhi: The Indian patent office has granted ‘highest’ number of 41,010 patents till November 15, this fiscal year, Commerce and Industry Minister Piyush Goyal has said.
In 2013-14 fiscal year, 4,227 patents were granted. “It’s a record. Highest ever number of patents granted so far in 2023-24,” he said in a post on social media platform X. On this, Prime Minister Narendra Modi said this is a “notable feat” and it marks a milestone in India’s journey towards an innovation-driven knowledge economy. “India’s youth will be great beneficiaries of such strides,” he said.
The prime minister recently stated that the rise in patent applications in India demonstrates the rising innovative zeal of its youth and is a very positive sign for the times to come. According to a World Intellectual Property Organization report, patent applications by Indians grew 31.6 per cent in 2022, extending an 11-year run of growth unmatched by any other country among the top 10 filers.
