New Delhi– Led by artificial intelligence (AI), Internet of Things (IoT) and neuro-technology, India witnessed 83,000 patents being filed by deep-tech startups in FY2023, marking an annual growth rate of 24.6 per cent which is highest since the last two decades, a Nasscom report showed on Friday.
The number of patents granted also witnessed significant growth, rising over 2 times between FY2019-FY2023.
This trend is expected to increase significantly with over 100K patents granted between March 15, 2023 and March 14 this year.
“The surge in patent filings within the last few years is a clear indication of India’s growing innovation prowess, particularly in areas like AI,” said Debjani Ghosh, President, Nasscom.
To further enhance domestic patent activity, collaborations among key stakeholders are essential for fostering and increasing awareness of intellectual property rights, she added.
Over the past decade, the proportion of patents filed by residents (primary filers based in India) has doubled, climbing from 33.6 per cent of total filings in fiscal year 2019 to more than 50 per cent in fiscal year 2023.
“The filing of over 900 patents since 2008 by leading Indian deep-tech startups coupled with the submission of 32,000 Patent Cooperation Treaty (PCT) applications in India by other countries stood as a testament to this increasing focus,” the report noted.
Amongst the top application areas, healthcare related patents primarily around medical imaging, diagnosing, report generation and testing saw the maximum applications, followed by automation/software development and retail/ecommerce.
AI saw maximum patents filed in areas of image processing, NLP, and predictive modelling, while Gen AI, medical data processing and cognitive computing are the key emerging areas. (IANS)
