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India's soaring innovation stock

Changes to IP laws have yielded results, leading to an improvement in India's ranking in the innovation index

patent, intellectual property
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Soumya Kanti GhoshUnnat P Pandit
India has emerged as a key player in the dynamic landscape of intellectual property rights (IPR) globally, showcasing a remarkable growth trajectory. Over the last nine years, there has been a substantial increase in patent filings and industrial design registrations, with a compound annual growth rate of 60 per cent through the end of 2022. This is reflected in India’s growth in the global innovation index, which has moved from the 83rd to the 40th position.

India’s global patent position

The surge in global patent applications reflects the increasing recognition of the value of safeguarding IP creations. In the current
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

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