Highest Number Of Patents Granted By Indian Government In 2023-24

Utkarsh Classes Last Updated 17-11-2023

Highest Number Of Patents Granted By Indian Government In 2023-24

Economy 4 min read

The Prime Minister, Shri Narendra Modi, has remarked that the number of patents awarded in 2023-24 is the greatest ever.

What is a Patent?

A patent is a government-granted exclusive right that allows the inventor to prevent others from using, producing, or selling an invention for a certain length of time.
A patent is also attainable for further development of their prior invention.
The primary goal of enacting patent legislation is to encourage innovators to contribute more in their profession by providing them with exclusive rights to their ideas.
Term of Patent: Every patent in India has a term of twenty years from the date of filing, regardless of whether it is filed with a provisional or full specification.

Patents Act

Patents Act, 1970 is a primary statute governing India's patenting system that went into effect in 1972. It took place under the Indian Patents & Designs Act of 1911.
The Indian Parliament enacted the Patents (Amendment) Act 2005, which replaced the Patents (Amendment) Ordinance 2004 issued by the Government of India in December 2004.
The Patents (Amendment) Act of 2005 creates a framework for product patents for food, chemicals, and pharmaceuticals.
The Act, which expanded product patents to all disciplines of technology, including food, pharmaceuticals, chemicals, and microbes.
The laws pertaining to Exclusive Marketing Rights (EMRs) have been removed as a result of the modification, and a clause allowing the award of compulsory licensing has been established.

Number of Patents Per Country 2023

China tops the list of patents by country, with over 695,400 international (PCT) patent applications filed every year, followed by the United States and Japan, respectively.

Compulsory Licensing

Compulsory licensing is one of the most essential components of the Indian Patents Act 1970, subject to certain requirements being met.
Any interested person may apply to the Patent Controller for the granting of a compulsory patent licence at any time after three years from the date of the patent's sealing, subject to the following requirements.

Evergreening of Patent

Evergreening a patent is a corporate, legal, business, and technological technique for extending the life of an issued patent in a jurisdiction that is about to expire in order to keep revenues by acquiring new patents.