Patents granted by India up by 50% in 2017: WIPO

• In accordance to Entire world Mental Assets Indicators 2018 report introduced by United Nation’s World Mental Property Organisation (WIPO), amount of patents granted by India shot up by 50% in 2017.

• The patents granted by India improved from 8,248 in 2016 to 12,387 in 2017, thus retaining up pattern of steep increases.

Vital Specifics

• Patents granted in 2017 in India had been extra than double 6,022 patents granted in 2015. Of the patents granted in 2017, 1,712 went to entities and people today dependent in India, and 10,675 to foreigners.

• The steep boost in variety was pushed by patents granted to foreigners, which accounted for 85% of total raise. The quantity of patents presented to domestic entities also has revealed increasing pattern.

• In 2016, 1,115 went to domestic people or entities and 7,133 to foreigners and in 2015, 822 were being granted to candidates in India and 5,200 to foreigners.

• Globally, 1.4 million patents were granted in 2017. China led earth with 4,20,144 granted patents and was followed by US with 3,18,829.

World Mental House Organisation (WIPO)

• It is the world-wide system for marketing and security of intellectual house legal rights (IPR). It is one of the 15 specialised businesses of United Nations (UN).

• It was founded in 1967 and is headquartered in Geneva, Switzerland. Its mandate is to stimulate creative action, to market the protection of intellectual house in the course of the globe.

• It encourages and supplies assistance to all its 188 member nations in formulating nationwide IPR policy even so it does not dictate or prescribe any mandatory actions.

• India is a member of WIPO and social gathering to various treaties administered by WIPO.

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