Five-fold increase in patent grant annually since 2014: Commerce ministry

There is a five-fold increase in the grant of patent annually, and a four-fold rise in trademark registration every year since 2014, the Ministry of Commerce and Industry said on Monday.

To modernise the Intellectual Property (IP) office and reduce legal compliances, along with facilitating filing of IP applications, the government has adopted several administrative and legislative measures, it said in a statement.

These initiatives have made a remarkable impact on the IP filings and registrations being granted, it said.

"There is a five-fold increase in the grant of patent annually, and a four-fold increase in trademark registration every year since 2014," the ministry said.

Further, it said that a large improvement has been noticed in domestic filing of IP applications across all right areas and especially in Patents, where 46 per cent increase has been noticed in the last five years.

On the occasion of this World IP day, the ministry will be organising a conference on 'Leveraging India's Demographic Dividend through IP' here tomorrow.