WIPO Report-2024

Tags: Reports

WIPO Report-2024

Why in news?

• India has secured a spot in the global top 10 for all three major intellectual property (IP)rights-patents, trademarks, and industrial designs.

World Intellectual Property Organization (WIPO) :

• The World Intellectual Property Organization (WIPO) has published the World Intellectual Property Indicators (WIPI) 2024, underscoring global trends in intellectual property (IP) filings. 
• The report reveals significant growth in patent, trademark, and industrial design applications across top economies. 

Important Points:

• India has secured a spot in the global top 10 for all three major intellectual property (IP) rights—patents, trademarks, and industrial designs.India continues to solidify its place as a global leader in the intellectual property (IP) landscape by showing substantial progress and marking new milestones in IP activity.
• India recorded the fastest growth in patent (+15.7%) applications in 2023 among the top 20 origins, marking the fifth consecutive year of double-digit growth. 
• Indiaranks sixth globallyfor patents with 64,480 applications, with resident filings accounting for over half of all submissions (55.2%)—a first for the country. 
• The patent office also granted 149.4% more patents in 2023 compared to the previous year, underlining the country’s fast-evolving IP ecosystem.
• The report indicates a steady rise (36.4%) in India’s industrial design applications, which aligns with increasing emphasis on product design, manufacturing, and creative industries within India. 
• The top three sectors—Textiles and Accessories, Tools and Machines, and Health and Cosmetics—made up almost half of all design filings,
• Between 2018 and 2023, patent and industrial design applications more than doubled, while trademark filings increased by 60%, reflecting the country’s growing emphasis on IP and innovation. India’s patent-to-GDP ratio also saw significant growth, rising from 144 to 381 in the past decade, indicating that IP activity is scaling alongside economic expansion.
• India ranked fourth globally in trademark filings, with a 6.1% increase in 2023.Nearly 90% of these filings were by residents, with key sectors including Health (21.9%), Agriculture (15.3%), and Clothing (12.8%) leading the way. India’s trademark office holds the second-largest number of active registrations worldwide, with over 3.2 million trademarks in force, reflecting the country’s strong position in global brand protection.

Significance:

• The findings from WIPO’s World Intellectual Property Indicators 2024 showcase India’s advancements in innovation and IP. The steady increase in resident filings demonstrates the impact of government initiatives, which aim to make India a global innovation leader.
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