What is the News?
The National Association of Software and Services Companies(NASSCOM) has released the India Patents report.
The focus of the report: The report is one among a series of Nasscom’s Emerging Technology-focused reports that aim to understand how Indian technology companies are creating IP assets in their largest market.
What are the key findings of the report?
Patents filed by Indian Companies: Indian companies have filed 1.38 lakh tech patents in India from 2015 to 2021.
The US as a key market: The US remains a key export market for India. Over 9,500 patents were filed by India domiciled companies in the US between 2015-2021, an increase of around 47% over 2015 and 2019.
Role of Start-ups: Start-ups have been key contributors in terms of technology innovation. Over 60% of the technology patents were filed by Indian companies and start-ups while 16.7% of the tech patents were filed by Individual inventors/Academia-Research.
Emerging Technologies: Artificial Intelligence (AI) continues to lead in terms of total patents filed under various emerging technology domains. Machine Learning patents grew by over 2X maintaining its lead in AI.
Source: This post is based on the article “Indian companies filed 1.38 lakh tech patents during 2015-22” published in Hindu Businessline on 25th April 2022.