Steady Flow Of Patent Application In India

The revival of the Indian economy and globalization of markets have thrown open new opportunities in the field of foreign investments and a strong patent regime is a key driver for foreign investment in India, particularly when other competing countries in South East Asia, including China offer better investment climate. As technological innovation is facilitated by healthy IPR protection, the onus is on the policy for correct balance between industrial development goals and protection of national interest.

The number of patent filing rate in India had tremendously grown in recent years and it has been growing 30% annually since 2002-03. The accession to PTC and the amendment of the Patent Act and Rules are the contributory factors. But the Indian Patent office infrastructure is still undergoing a change. The IT infrastructure is improving and the government realizing the advantages is planning a 1,300 crore-modernization plan. Currently India is ranked 12^th in the world in patent