TestCloud
Prep • Practice • Perform
Log In

According to the WIPO 2024 Report, India ranks among the top 10 countries in Patents, Trademarks, and Industrial Designs.

International | Dated: 20 Nov 2024

According to the World Intellectual Property Indicators 2024, the annual report published by the World Intellectual Property Organization (WIPO), India has shown significant growth in the global intellectual property (IP) landscape and has secured a place among the top 10 countries for all three major IP rights: patents, trademarks, and industrial designs.

🎯 Key Highlights:

  • - The report, published by WIPO, assesses global trends in IP filings and highlights significant growth in patent, trademark, and industrial design applications across major economies.
  • - India recorded an impressive 15.7% growth in patent applications in 2023, the fastest among the top 20 countries, marking the 5th consecutive year of double-digit increases in patent filings.
  • - India ranks 6th globally with 64,480 patent applications, with domestic applicants contributing 55.2%. Patent grants surged by 149.4% in 2023, reflecting rapid IP growth.

💡 Other Important Facts:

  • (i) In the industrial design sector, applications in India rose by 36.4%, reflecting the increasing emphasis on product design, manufacturing, and the creative industries.
  • (ii) Between 2018 and 2023, patent and industrial design applications more than doubled, while trademark filings increased by 60%. During this period, the country's patent-to-GDP ratio rose sharply from 144 in 2013 to 381 in 2023.
  • (iii) A total of 3.55 million patent applications were filed globally in 2023, marking a 2.7% increase from 2022.

📚 Test Your Knowledge:

Recently, according to the WIPO 2024 Report, which country ranks among the top 10 in Patents, Trademarks, and Industrial Designs?

Correct Answer: India

🚀 Quick Recap:

About World Intellectual Property Organization (WIPO)

  • DG : Daren Tang
  • Headquarters : Geneva, Switzerland