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ARTICLE · 18 DECEMBER 2024

Patents As A Growth Catalyst For Startups And MSMES

Saikrishna and Associates, Advocates
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In the recent years, it is the Micro, Small, and Medium Enterprises (MSMEs) and startups that are leading an innovation-based economy in India. These businesses drive the vision of ‘Make in India', creating employment and fostering economic growth.

IndiaIntellectual Property

Introduction

In the recent years, it is the Micro, Small, and Medium Enterprises (MSMEs) and startups that are leading an innovation-based economy in India. These businesses drive the vision of 'Make in India', creating employment and fostering economic growth. As of December 31, 2023, India has a impressive base of 75 million MSMEs and 174,254 recognized startups, making it one of the global leaders in entrepreneurship. These businesses have become one of the leading contributors to the gross domestic product and manufacturing industry of the country over the past few years.

Year

Share of MSME Gross Value Added (GVA) in all India Gross Domestic Product (GDP)

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