In a groundbreaking revelation, Commerce and Industry Minister Piyush Goyal announced that the Indian Patent Office has set an unprecedented record by granting 41,010 patents until November 15 in the current fiscal year. This remarkable achievement surpasses the previous record of 4,227 patents granted during the 2013-14 fiscal year, showcasing a substantial leap in India’s commitment to fostering innovation and intellectual property.
Expressing his enthusiasm, Goyal took to the social media platform X to declare, “It’s a record. Highest ever number of patents granted so far in 2023-24.” The surge in patent grants reflects the nation’s dedication to advancing its technological landscape and promoting a culture of innovation.
Prime Minister Narendra Modi lauded the accomplishment, terming it a “notable feat” that signifies a significant milestone in India’s journey towards establishing an innovation-driven knowledge economy. Modi emphasized the positive impact of this achievement on India’s youth, asserting that they would be the primary beneficiaries of these strides.
As India continues to make significant progress in intellectual property, the increase in patent grants demonstrates the country’s dedication to establishing a suitable environment for research, development, and innovation, placing itself as a crucial player in the global knowledge economy.
Image Source: economictimes.indiatimes.com
