Comments
The number of patents filed in India has increased at an average of 11 per cent anually for the last three years to touch 36,000 patents annually, according to a white paper released by Zinnov Management Consulting titled ‘IP Capacity Landscape in India.'
The white paper says India has emerged as one of the most sought after markets by global as well as domestic companies, contributing to the development of new products and innovations. The current R&D spend of approximately 1 per cent of its GDP is slated to double in the next few years; and there is a need to further strengthen the intellectual property (IP) ecosystem to boost R&D in the country.
The paper also highlights the challenges to IP creation and protection in India, and also recommends measures to strengthen the ecosystem. It also presents a comparative analysis of India's growing IP capacity with other growing economies such as China and Brazil. The paper says the Chinese IP outweighs its Indian counterpart by a huge factor of eight.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.